Why Experts Say More People Are Shopping Dollar Stores, Even When They’re Not Broke
Written by
Stephanie Mickelson
Edited by
Zuri Anderson
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Many people shop at dollar stores out of necessity. More affordable products allow their dollar to stretch further to buy the basics to live. But, increasingly, people who can afford to shop at more expensive stores are turning to dollar stores instead.
According to Statista, there are over 39,000 stores in the U.S. classified as dollar stores. These stores offer a mix of food and consumer goods with many focused on offering a range of seasonal products. While these aren’t the go-to stores for meat or fresh produce, they typically stock a variety of prepackaged foods, including canned goods and baking items, along with dairy products.
As an increasing number of people move towards dollar stores for their needs, it begs the question, why are more people shopping at dollar stores even when their income would support shopping at more expensive stores?
GOBankingRates reached out to experts to get their take on this trend.
We All Love a Bargain
Even someone who isn’t broke can appreciate a good deal. That’s where dollar stores come in.
“Who doesn’t love a bargain? Dollar stores can be such a wild experience because you never know what you’re going to find there. There’s a legitimate thrill to it all,” said Bobbi Rebell, certified financial planner (CFP®) and consumer finance expert at Badcredit.org.
Rather than walk into a bigger box store with an idea of what you need, heading into a dollar store can be a surprise as stock rotates and new items come in. This is especially true for seasonal decor.
It’s Trending
Shampaigne Graves, a women’s consumer expert, has been studying the trend of frugality, especially on social media platforms.
She said that the trend of influencers sharing their dollar store finds and “Dollar Tree dinners” are targeting an audience of lower socioeconomic status. When asked why people who can afford not to shop at dollar stores are choosing them anyway, she said the answer’s simple: “They are being influenced.”
Budgeting has also been a trending topic in recent years. From quiet budgeting — privately and calmly managing finances — to loud budgeting that entails proudly declaring that something isn’t in your budget, people are finding what works for them. Often, this translates to saving money and shopping at lower-priced stores.
They Have Good Products
While dollar store goods have long been equated with lower quality, Tyler Gordon, co-CEO of BaseCamp Franchising, the parent company of Uptown Cheapskate and Kid to Kid, said this is no longer the case.
“Value has always been in style,” he points out. “What’s changed though is that in the past customers felt they needed to sacrifice quality in pursuit of great value, but if you look at the landscape now, that’s increasingly not the case.”
It Comes From Self-Awareness
“It’s a wonderful example of self-awareness to understand that just because you can spend more money, doesn’t mean that you have to,” Rebell said.
This self-awareness and intentionality with money also signals that you’re in control.
“Luxury,” she said, “has become so mainstream, it has lost a lot of its aspirational cache.” Gordon adds that “discount stores can help you feel savvy, smart and sustainable.”
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