Don’t Be Fooled By “Dollar Stores”

Are you one of the many people who are almost addicted to shopping at “dollar stores?” Do you believe that you’re really saving when you leave a dollar store with three carts full of stuff?

Well I have a rude awakening for many of our Your Financial Fitness readers today… especially those who over-shop at the dollar stores.

You’re not getting the great bargain at dollar stores you think you’re getting. That’s right.

The fact is, dollar stores are a business. They exist to make a profit. And make a substantial profit they do.

Did you know that last year, Dollar Tree purchased Family Dollar, for an amazing 8.5 Billion dollars? That’s Billion with a B!

Dollar stores are very good at luring you into a store with “dollar offers.” Yet few dollar store shoppers realize they are getting a low price on items that are of a much lower quality than other brands. Or they are getting much smaller versions of products they see in other stores.

Dollar stores do offer $1 products. However, these products typically only make up 20-30% of the products they sell. They stock other products that cost much more than a dollar, too. Knowing that you’ll come in for the dollar product, and buy a few (or a lot of) higher-priced products while you’re there.

If you take the time to compare prices and the product itself, including the quality, the quantity and size of the product in a dollar store, then do the same at other retail stores, you’ll find you can get a better deal on better products in places like Wal-Mart, Target and even Costco (which is members only for a small yearly fee).

So my advice to you is do your research, compare from store to store, and don’t get all caught up in the “dollar store” frenzy, thinking you’re getting a great deal.

Because there’s a good chance you can get a better deal on a better product somewhere else.

Source: http://time.com/money/3046526/dollar-stores-dollar-tree-family-dollar-merger/

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