let's face it the biggest spenders at these stores are not even paying payroll taxes (or many pay no tax at all) . . . they are either SSI, SSDI or some other federally funded program - they are perhaps the only consistent spenders in this economy and probably not internet savvy shoppers. Mitt referred to them as the 47%. Just one man's opinion.
I own the stock and I as an upper middle class batchelor that prefers to park near the front door, quickly get what I went to purchase, never be more than three deep in line at the check out and my car is right outside the door.
If I shop at the super markets or department stores I have to park way out, wade through all the other shopers, stand ten or more deep in line and then hike all the way back to my car.
So you see those of us with some earned money shop there too and I do not belive I am unique in that regard.
As for all of the analysts that are projecting a contracton in sales due to all the new taxes, they are very near sighted. First, the new taxes will serve to enhanse existing customer base loyalty. Second, those new taxes will drive some of the lower income shoppers now frequenting J. C. Penny, Sears and/or Bed Bath and Beyond to explore the discount retailers and result in an expantion of their existing customer base.
I do expect sells to experience a short term negative effect from the tax increase but I also expect a long term positive effect.
We love the Dollar Stores up here in Maine. They are opening in communities too small for a big Wal Mart and from what I can see the customers come from all income levels. Everyone loves a bargain. Many of us have achieved some degree of financial success by being frugal. I remember years ago meeting the Mill Manager at a Marden's store up here in Maine. Marden's markets insurance stock from fires, floods, and other distressed merchandise. The motto is "I should have bought it when I saw it at Mardens"!
Our controversial Governor, Paul Lepage was Marden's general manager for years. Paul is a Tea Party darling and is know for his outspoken foot in mouth comments. He grew up on the streets of the hardscrabble city of Lewiston and with this background has developed a pugilistic personality. Up here, Marden's might give the dollar stores a run for their money but you do need to be careful, especially many of the food items may be over the expiration date.