U.S. markets open in 4 hours 32 minutes
  • S&P Futures

    4,271.00
    -5.75 (-0.13%)
     
  • Dow Futures

    33,926.00
    -37.00 (-0.11%)
     
  • Nasdaq Futures

    13,468.00
    -25.25 (-0.19%)
     
  • Russell 2000 Futures

    1,989.20
    +0.10 (+0.01%)
     
  • Crude Oil

    89.00
    +0.89 (+1.01%)
     
  • Gold

    1,778.90
    +2.20 (+0.12%)
     
  • Silver

    19.69
    -0.04 (-0.18%)
     
  • EUR/USD

    1.0170
    -0.0010 (-0.10%)
     
  • 10-Yr Bond

    2.8930
    0.0000 (0.00%)
     
  • Vix

    20.44
    +0.75 (+3.81%)
     
  • GBP/USD

    1.2048
    -0.0003 (-0.03%)
     
  • USD/JPY

    135.1900
    +0.1000 (+0.07%)
     
  • BTC-USD

    23,423.74
    -393.76 (-1.65%)
     
  • CMC Crypto 200

    556.83
    -15.98 (-2.79%)
     
  • FTSE 100

    7,498.25
    -17.50 (-0.23%)
     
  • Nikkei 225

    28,942.14
    -280.63 (-0.96%)
     
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Inflation: Foot traffic at dollar stores is growing, study shows

·Markets Reporter
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

Consumers are flocking to dollar stores amid the highest inflation since 1981.

Foot traffic to discount and dollar shops is above pre-pandemic levels as shoppers try to stretch their purchasing power, according to data compiled by Placer.ai.

Visits rose 13.2% during the second quarter of 2022 compared to the prior three months. Foot traffic in the second quarter was up 8% year-over-year, and up 20.5% compared to the same period in 2019.

Family Dollar saw foot traffic in Q2 rise 16.3% year-over-year. Five Below (FIVE) visits increased 10.2% during the same period, and Dollar General’s (DG) were up 8.5%. Dollar Tree's (DLTR) traffic rose 5.9% year-over year.

The pandemic has helped discount and dollar stores become a go-to destination for consumers. Weekly visits in the second quarter of 2022 were up relative to 2021, and significantly higher when compared to 2019 levels.

A view of a Dollar Tree store in Washington, U.S., June 1, 2021. REUTERS/Erin Scott
A view of a Dollar Tree store in Washington, U.S., June 1, 2021. REUTERS/Erin Scott

"The dramatic rise in Yo3Y weekly visits reveals the long-term advantage the pandemic gave the category. In the early days of COVID, dollar and discount stores were one of the few retail categories that remained open as essential businesses, which led many shoppers to discover the value priced one-stop-shops – and these shoppers have been coming back ever since," the Placer.ai report stated.

The study goes on to say many of these types of stores expanded their footprint in 2021 and continue to do so this year. This could help explain some of the added traffic. But average visits per venue grew between the 2nd quarter of 2022 and the same period last year.

Ines is a stock market reporter for Yahoo Finance. Follow her on Twitter at @ines_ferre

Click here for the latest economic news and economic indicators to help you in your investing decisions

Read the latest financial and business news from Yahoo Finance

Download the Yahoo Finance app for Apple or Android

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, and YouTube