Top Dollar Chains Saw Increased Traffic in Q2 2022
Retail foot traffic analytics firm Placer.ai has shared its latest 2022 Quarterly Index, showing that amid record inflation, discount and dollar chains continue to attract customers.
For Q2 2022, the four major discount and dollar chains (Five Below, Dollar General, Family Dollar and Dollar Tree) saw a combined 8% increase in visits compared to Q2 2021, a 20.5% increase compared to Q2 2019 and a 13.2% increase from Q1 of this year.
“In Q2 2022, weekly visits to dollar and discount stores were up relative to 2021, and increased significantly relative to 2019,” Placer.ai wrote in the report. “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. Meanwhile, the increase in YoY visits indicates that the category still has some room to grow.”
Family Dollar saw the largest increase (16.3%) in YoY visits in Q2 2022, followed by Five Below (10.2%), Dollar General (8.5%) and Dollar Tree (5.9%). Placer.ai also explained that YoY and Yo3Y increases could also be a result of new dollar chain locations, as several retailers grow their store fleets.
“Foot traffic to dollar and discount stores increased over the pandemic, and Q2 2022 data indicates that visits to the category are still significantly higher than they were pre-COVID, with the current economic challenges driving visits up even further,” said the firm. “To respond to the heightened demand, many brands are expanding their store fleet – which is setting the category up for even greater long-term success.”
The full quarterly index can be found here.