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According to a recent survey, buyers are increasingly looking for deals at dollar stores since essential food staples like eggs, milk, and butter are becoming more expensive in supermarket aisles.
According to Coresight Research’s weekly US Consumer Tracker, more than one in five consumers have restocked their refrigerators with low cost brands like Dollar Tree and Dollar General.
According to official statistics, the cost of a dozen eggs has increased by 60% since last year, to an average of $4.25, while the cost of milk and butter has increased by 31%.
A dozen cage-free eggs cost $4.95 at a Dollar General in the Bronx, as opposed to $6.99 at a Stop & Shop nearby. I can’t Believe it’s Butter 15-ounce tubs cost $4 at Dollar General versus $5.19 at the same Stop & Shop. A gallon of whole milk cost $3.90, which is $1.09 less than at the Kingsbridge store.
Dollar stores often don’t have as many fresh things as regular grocery stores, although this is changing.
According to a CNBC article citing Coresight data, dollar shops have been expanding their offers to include healthier items and fresh vegetables and installing additional refrigeration units to their storefronts.
Another Placer.ai research revealed that, in January 2019, compared to January 2020, before the epidemic began, foot traffic to dollar stores rose by 19.1%. According to the data, foot traffic increased 14% in September 2018 over September 2021.
According to Ethan Chernofsky, senior vice president of market at Placer.ai, a data analytics company, the dollar store brands may experience even more growth this year.
The Placer.ai report stated, “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,” if the two retailers continue to improve the quality of their fresh food while maintaining the low prices associated with their brands.
Even wealthy customers earning six-figure incomes have said they are living paycheck to paycheck owing to the rising cost of products, according to The Post. Shoppers have been buying less costly items — even giving up beef in some cases — and buying fewer items for months.
While the dollar shops “made some headway” against Walmart over the previous year in the food and beverage categories, Walmart “remains the top grocery retailer in the United States,” according to a price research by Gordon Haskett analyst Chuck Grom contrasting Walmart and the dollar stores.
What do you think of those dollar stores demand increase? Please let us know in the comments.