Dollar Store Foot Traffic Jumps 14% as Millennials Shop Deep Discounters
If anyone is still wondering what's behind the bidding war for Family Dollar, look no further than this: visits to dollar stores were up 14 percent last quarter. Yes, 14 percent. Dollar stores, or the extreme discount segment, are capturing an ever-growing portion of shoppers' dollars, according to the NPD Group's Shopping Activity Services report. While some of this increase is attributed to a larger store base, increased assortment and some interesting demographic shifts are also contributing factors. Nearly half of dollar store shoppers are under the age of 45, an increase from 42 percent last year.