Dollar Stores Now Outnumber Walgreens, CVS And Rite Aid In The U.S.

family dollar store

The combined store count of four major dollar store chains–Dollar General, Dollar Tree, Family Dollar, and 99 Cents Only, which tally in at 21,500–has surpassed that of the nation's three biggest drugstore chains, Walgreens, CVS and Rite Aid, according to a survey by Colliers International.

"The rapid evaporation of wealth–both real and perceived–has profoundly changed the way Americans shop and how they define value,"said Ann Natunewicz, National Manager of U.S. Retail Research for Colliers International. "Dollar stores now serve a larger consumer base, which is fueling unprecedented growth in dollar store leasing and a significant shift in the types of retail space they take."

The study found that dollar stores have expanded their food selection, upgraded their store and product presentation and are now appealing to a broader demographic.

And dollar stores are big business. "Their product selection and price points compete favorably with the big box stores. While the dollar stores are moving into more desirable locations, they are generally able to maintain aggressive deal terms," said Natunewicz

Because the economy spurred store vacancies, these stores are also moving into better commercial real estate locations, making it easier for mid-income consumers to find them.