New data show that more consumers have been turning to dollar stores for groceries, with supermarket prices still up more than 10 percent this year.
Coresight Research found in a January 2023 report that 20 percent of U.S. shoppers visit dollar stores for their grocery items.
“If [Dollar Tree and Dollar General] continue to improve the quality of their fresh food while maintaining the low prices associated with their brands, there is a high chance it will bolster their value proposition with their existing consumer base and also pull in new customers from higher-priced retailers,” the Coresight report stated.
Mike Witysnki, the Dollar Tree CEO, confirmed in a quarterly earnings call in November that the company is “developing an assortment to meet our shoppers’ family needs as they are looking to save money by dining at home.”…