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Better Pricing / Better Living
The most recent 2011 Store Openings list (a list obtained from credible published sources available to the general public, updated 3/24/11) reveals that store unit expansion is aligned to consumer desire for better pricing and better quality of life. At the top of the list, both Dollar General (625 new store planned) and Family Dollar (300 new stores planned) have new store plans that build on the growing consumer behavior to shop at “dollar stores.” Although both stores’ pricing is not rock-bottom (vs. Dollar Tree’s $1 on all items or Jacks 99cent stores), the 2 chains will thrive as consumers continue to trade-off in size and brand names for better pricing and in/out convenience.
CVS and Walgreens also intend to stay quite competitive, with CVS planning to open 275 new stores while Walgreens is planning on opening 225 new stores. Perhaps playing on the idea that “you can’t put a price tag on health,” CVS and Walgreens are known for having higher prices vs. general merchandise stores but both are also known for a broader stock and knowledgeable staff/pharmacists.
It will be interesting to see how smaller size stores (as noted in the typical footprints for Dollar General, Family Dollar, CVS, and Walgreens) will influence the planned footprints for Wal-Mart and Target’s new stores. According to Bloomberg News, Wal-Mart has already broken ground on its first Express stores, a non-traditional format for Wal-Mart. The first three will be located in Northwest Arkansas. The Express stores will be about 15,000 square feet, which is one tenth the size of an average supercenter. Good things do come in small packages.
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