Family Dollar Takes Steps To Sharpen Merchandising
Family Dollar has partnered with First Insight to refine its merchandise assortment strategy as it looks to meet evolving consumer expectations and shifts in the market.
According to First Insight, the partnership will allow Family Dollar to bring “groundbreaking concepts” to the market while also reducing the risks of markdowns and stock shortages.
The announcement of this new initiative comes several weeks after Family Dollar’s parent company, Dollar Tree, said it was reviewing strategic alternatives for Family Dollar that include a potential sale of the business, a spin-off, or other disposition.
Rick Dreiling, chairman and chief executive officer of Dollar Tree, said the unique needs of each retail banner — the transformation at Family Dollar and growth acceleration at Dollar Tree — led the company to its decision to review alternatives for Family Dollar.
While this review is ongoing, Family Dollar officials said they are looking for new ways to meet the needs of its shoppers.
“Listening to our customer and inspiring her with everyday essentials and must-have items of the season is at the core of everything we do,” said Bonita Price, senior vice president of Merchandising at Family Dollar. “First Insight’s platform gives us fast, actionable insights into our customers' preferences, which has already provided significant value. We are excited to see this partnership grow.”
This alliance of Family Dollar and First Insight is expected to further Family Dollar’s commitment to value while advancing its position as a one-stop shop for family essentials and serving its customers with the right products at the right time.
