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Terms Related to Dollar Stores
Dollar stores are purveyors of discount sundries that include items such as household goods, food, beverages, gifts, party items, novelty items, jewelry and even some electronics. Crafting enthusiasts have recently begun to scour dollar stores for cheap trinkets for use in crafts projects. Here are a few terms commonly associated with dollar stores:
Closeout Store: A store that sells discounted merchandise that has either been discontinued by the manufacturer, or has been purchased by a retailer that has gone out of business.
Liquidation: In retail, the process wherein assets or goods are sold before the business closes permanently.
Salvage Merchandise: Merchandise that has either been damaged or exposed to a situation where damage might have occurred. For example, if a freight truck overturned carrying clothing from the manufacturer, the cost of the entire delivery would then be recouped by the manufacturer from the insurance company. The insurance company would then disburse the clothing to wholesalers who, in turn, sell the product. Even though not all of the items were necessarily damaged, the entire shipment would still be classified as salvaged merchandise.
Test Market Item: Products manufactured on a limited scale and sold to a small section of the population in order to test their larger market viability.
Clearance: The retail of a product at a deeply discounted price in order to clear the stock completely. This typically happens with manufacturer discontinued products or products that do not sell well at that particular outlet.
Ex-Catalog Stock: Overstocked merchandise that has been removed from store shelves.
Factory Overruns: Products that were manufactured in higher quantities than originally specified. Although this does happen with major brands, many items that claim to be genuinely brand-named factory overruns are actually counterfeit.
Dollar stores are a great, affordable way to stock up on several goods for your home holiday decorating, upcoming party, or buying cheap gifts while still staying within the family budget. Dollar stores, sometimes referred to as 99 cent stores, sell bulk and wholesale items at discounted retail prices. They will often purchase overstock merchandise from local retail chain stores, or stock used items like books and DVDs, they are then able to sell at rates lower that other thrift stores or general stores. However, make no mistake—family dollar stores are a type of general store or thrift shop. They sell a wide variety of merchandise, including toys, generic cleaning products, office supplies, candy, automotive supplies, and other products. If you are planning a party for your kids, you can give out party favors and gifts at a discount rate for your pocket book by checking out the local general dollar store. They may even carry some food products that you can use at the party. To find one of these shops, begin by checking the local strip mall, flea market or outlet shops in the area. If you still cannot locate one, check the phonebook or the internet for dollar store listings. Call and find out their hours of operation, the tax rate in your area, the variety of merchandise they may carry, and bulk purchase deals that they may offer. When you visit, be sure to check the prices—they may not always come out to just a dollar!