Shop Talk
Retailers, consumers and prices
Family Dollar’s keeping the light on
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Family Dollar has boosted its sales by stocking more of what shoppers want in a recession — low priced consumables, like food, household cleaners and beauty aids.
The retailer, which sells merchandise priced at $10 or below, is also encouraging shoppers to spend more in its stores by accepting an expanded number of payment options – like credit cards or food stamps.
It has now come up with a new way to ring up more sales — it is extending operating hours in “substantially” all of its stores.
The retailer, which reported better than expected quarterly results on Tuesday, told analysts on a conference call that it had tested expanded store hours in 15 percent of its stores last quarter. Based on the response from customers, it decided to roll out longer hours across the chain.
While it would not say by how much it is expanding store hours, Family Dollar said it expects the move will add to its bottom line very quickly.
(Photo: Reuters)
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Taking a lesson in economics from Washington DC, Family Dollar could make even more money by accepting bribes from Kroger and Safeway in exchange for not staying open longer than an hour or two per day.
Then they could channel the extra revenue into advertising.