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BizReport : Ecommerce archives : October 22, 2013

High income households browsing dollar store aisles

New research from Mintel reveals that it's not just low-income households that frequent dollar stores. Their survey of Americans across the income spectrum shows that even those in the highest income brackets can be found browsing dollar store aisles.

by Helen Leggatt

While consumer confidence is on the rise, many are still watching their purse strings. It's no surprise, therefore, that dollar stores have popped up across the U.S.

What is surprising, however, is that even those households in the highest income bracket ($150,000+) are frequenting dollar stores - only a third of respondents claim not to shop in such a store. Furthermore, 10% of respondents from the highest income households said they are shopping at dollar stores more often. Meanwhile, only 8% of lowest income households (less than $25,000) said the same.

Naturally, three-quarters of those who shop at dollar stores believe prices are better than other retailers, and respondents from both high income and low income households agree. Convenient locations are an attraction for 78% and 59% say the stores are pleasant places in which to shop.

"While dollar and discount stores benefited from increased consumer traffic and a new shopper base as a result of the recession, these channels will have to work hard to retain these shoppers as the economy improves. Everyday essentials are key to dollar stores' strength, while affordable fashion will help discount stores succeed," says Ali Lipson, retail analyst at Mintel.

Image via Shutterstock

Tags: dollar store, finance, household income, research, retail, U.S.

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