In this unprecedented holiday season, for consumers, it’s all about the Almighty Dollar — literally.
As the United States, and countries around the world, wade through the persistent coronavirus pandemic, consumers are grappling with the immediate health impact as well as broader financial implications related to job loss and macroeconomic shifts.
The result, experts say, is a more financially prudent shopper during retail’s critical season — a trend that could hurt some firms but is creating a boon to business for dollar stores.
A report this week from market research firm Placer.ai indicates that Dollar General and Five Below, specifically, are defying pandemic-induced trends and are faring better year-over-year in terms of foot traffic. Dollar Tree, meanwhile, “is nearly there, but has a little ways to go,” noted Placer, adding that the holiday shopping season means “there’s good reason to think that these retailers will lead the charge and finish 2020 with a bang.”