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Dollar General, Family Dollar, and Dollar Tree are taking over the US with more new stores than any other retailer — and it reveals a shift in how Americans are shopping

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Merchandise is displayed at the entrance to a Dollar General store near Bloomsburg.

Paul Weaver/SOPA Images/LightRocket via Getty Images

  • Dollar General announced more than 1,000 store openings in 2022, per company Coresight Research.
  • More customers turned toward discount deals due to inflation jacking up the prices of goods.
  • Other companies that opened many stores in 2022 include Aldi, Ross Dress For Less, and Five Below.

Shoppers in the US craved discounts in 2022.

With inflation rising to a 40-year high toward the end of last year, consumers looked for relief on their wallets any way they could get it — such as cutting their discretionary spending or trading down for private label items at grocery stores like Walmart.

And discount stores have reaped the benefits: Dollar General’s stock soared to an all-time high in November 2022, for example. 

Dollar General CEO Jeff Owen said in a quarterly earnings release in October 2022 that the company had seen a boost in customer traffic and sales, “all of which we believe are a testament to the strength of the value and convenience proposition we offer our customers.”

With so many people looking to save money, discount stores led the pack for retailers in opening new locations next year. As of late December 2022, there were 5,103 major US store openings announced last year, far outweighing the 2,603 announced store closures, according to data provided by research and advisory company Coresight Research. Discount retailers accounted for thousands of those openings.

From Dollar General to Five Below, here are the 10 companies that announced the most US store openings from the start of 2022 through December 30, according to Coresight Research.

1. Dollar General — 1,024 stores

dollar generalDollar General.

Justin Sullivan/Getty Images

2. Family Dollar — 393 stores

family dollarFamily Dollar.

Spencer Platt/Getty Images

3. Dollar Tree — 206 stores

Dollar Tree logo is seen on the shop in Streator, Illinois, on October 15, 2022.

Jakub Porzycki/NurPhoto via Getty Images

4. Five Below — 134 stores

five belowFive Below.

John Greim/Getty Images

5. TJX Companies — 133 stores

TJ MaxxT.J. Maxx.

Associated Press

6. Ace Hardware — 119 stores

ace hardwareAce Hardware.

Ken Wolter / Shutterstock.com

7. Burlington Stores — 113 stores

burlington storesBurlington.

John Greim/LightRocket via Getty Images

8. Aldi — 109 stores

AldiAldi.

Joe Seer/Shutterstock

9. Ross Stores — 101 stores

Shoppers stand in front of Ross Dress for Less discount retail store in Miami Beach, Florida.Ross Dress For Less.

Jeff Greenberg/Education Images/Universal Images Group via Getty Images

10. Signet Jewelers — 100 stores

Kay Jewelers Zales SignetSignet Jewelers is the parent company of Kay Jewelers and Zales Jewelers.

Justin Sullivan/Getty Images

Read the original article on Business Insider
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