The store dates back to a family-owned business opened in the 1930’s in Kentucky, and in 1968 the company name changed to Dollar General Corporation and went public on the stock exchange. The company has had success as one of the most profitable stores in the rural areas of the United States, and the revenue in 2017 was around the $21bn mark.
New Stores and Locations
This year Dollar General plan to open no less than 975 additional stores as well as undertaking a remodelling exercise in 1,000 location as well as the relocation of approximately 100 stores. Sales have been up by 4% in the most recent quarter and total sales rose by 8.5% $6.7 billion showing that the company has grounds for optimism about it’s continued appeal to the general public.
There are some key trends that the stores feature including their huge size with many of them ranging in size between 7,000 to 10,000 feet stacked with all manner of goods, and the layout includes bright luminous lighting and narrow aisles to pack in the vast array of stock they hold. Customers can spend a long time amongst the shelves of foodstuff, drinks, clothes, vitamins, medicines and household goods to name a few of the many items on sale. The store also have promotional activities at some of the branches such as discounted last offer items.
Of course one of the lures for many shoppers in the United States is the company’s strategy to keep prices as low as possible by having a practical and basic infrastructure in the shops and this has obviously been key to it’s success in the financial crisis. By clever and economical shelving the stores seem to somehow fit in even in more items than other big name stores. The figures speak for themselves - as other big names close down around the world Dollar General, the store with modest beginnings, is going from strength to strength.