Dollar stores, such as Dollar General and Dollar Tree, have seen an increase in traffic and spending from the affluent Millennial demographic. Though these consumers, in theory, can afford to shop at standard price stores, they are increasingly choosing not to do so. According to a report by Reuters, twenty-nine percent of Millennials who shop at Dollar General, Dollar Tree, and Family Dollar are from households earning over $100,000 per year. They also estimate that this same group of shoppers represents twenty-five percent of total sales made by these two brands.
The increased traffic and spending, particularly from a younger demographic, is leading dollar stores to open up more locations in city and urban areas. An increase in dollar store business can be good news for flea marketers, too. As people are choosing to spend money on experiences such as travel, concerts, and food, shoppers are looking to cut back on everyday items. Flea markets have always been a top destination for customers looking for a bargain, and typically offer more unique products than a dollar store.
In addition to opening new stores, Inc. reports that Dollar General will also be adding 23,000 coolers to 9,000 of their stores nationwide. Millennial shoppers are increasingly looking to buy local and organic groceries at dollar stores, as well as everyday and household staples.
Growing dollar store traffic is good news for any value-priced shopping destination. However, when it comes to local products at low prices, no one does it better than flea markets. Between handmade goods, bargain-priced staples, unique items, the farmers markets that frequently accompany swap meets, and the experience of actually visiting a flea market, these community-friendly shops fit all the needs of Millennials and the other budget-conscious consumers.