Here's How Dollar Tree Is Staying Competitive in the Retail Game
The coronavirus pandemic dealt a hard blow to retailers in 2020, as many nonessential stores were forced to shutter temporarily early on in the outbreak. But even once stores were able to reopen, many found that consumers just weren't spending, given the state of the economy last year. And even though this year's economy is stronger, some consumers are still spending more conservatively -- perhaps in an effort to recover from personal losses incurred in 2020.
But one breed of store has managed to emerge victorious in the wake of the pandemic: discount stores. While other brands have contemplated closures in 2021, dollar stores have expanded their footprint.
Dollar Tree (NASDAQ: DLTR) is one of them. Earlier in the year, it set a goal of opening 600 stores in 2021 and renovating 1,250 existing locations in an effort to stay competitive. But that's not the only thing Dollar Tree is doing to retain its edge.
Source Fool.com
