What Is Family Dollar?

Words: 292
Pages: 2

Family Dollar is a business that has been around since 1959 and has a unique retail strategy which has helped it thrive in both good and bad economic times. “A retail strategy is the overall plan or framework of action that guides a retailer” (Berman & Evans, 2013, p.54). Their strategy focuses on targeting lower income customers with efficient, unified store displays offering a high value orientation and good customer service. Their ability to communicate with shoppers and follow a strategic plan encourages core customers and existing ones to keep coming back. When the recent recession hit, the economic climate caused Family Dollar to reevaluate their business plan. They had to change their product selection and store layouts. Their low income