Dive Brief:
- As the holidays approach, Dollar General has announced savings on toys, per a company news release.
- The dollar store said nearly every toy — from brands like Fisher Price, Pokémon, Disney, Hasbro, Lego, Mattel and Melissa & Doug — is under $20, with most priced at $10 or less.
- The retailer is also offering DG Deal Days through Christmas — which offers promotions like buy one, get one 75% off — as well as a Stacked Savings component that can save customers even more.
Dive Insight:
Acknowledging this year’s shorter holiday selling period with fewer days between Black Friday and Christmas Day, Dollar General is already rolling out its holiday savings.
It’s a trend other retailers have taken on as well. Amazon’s Prime Big Deal Days event took place Oct. 8 and Oct. 9, almost a month and a half before its Black Friday and Cyber Monday. Other retailers like Walmart, Target and even Lowe’s launched early fall sales events as well.
The deal events also come at a time when consumers are facing economic challenges. Dollar General CEO Todd Vasos during the retailer’s second-quarter earnings call in late August said that the retailer’s customers are feeling particularly pressured.
“It appears to us very strongly that ... this lower end consumer continues to be very much financially strapped especially as it relates to her ability to feed our families and support her families,” Vasos said. “[T]his is a cash strapped consumer right now, even more so than what we saw in Q1.”
A Bankrate report found that 33% of consumers said they would spend less this holiday season compared to last year. And a survey from Coveo found that nearly 60% of respondents planned to cut back on regular spending to prioritize their holiday budgets.
