Dollar Stores Now Outnumber Chain Drug Stores, Says Study
SEATTLE-As of mid-year 2011, the combined store count of the four largest dollar-store chains exceeded that of the three biggest chain drug stores, according to a study by real-estate services company Colliers International.
In its white paper, "Dollar Days: How Dollar Stores Are Growing in a Weak Economy," Colliers said the four dollar stores--Dollar General, Dollar Tree, Family Dollar and 99 Cents Only--"are now part of the national shopping habit." They now operate about 21,000 locations in the United States, more than the combined stores of CVS, Rite Aid and Walgreens. Ann Natunewicz, national manager of U.S. retail research for Colliers, said, "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."
Typical dollar stores encompass from 7,000 to 10,000 square feet each. Some newer prototypes have exceeded 20,000 square feet, Colliers said.