VARIETY STORE

(Redirected from Five and dime)

A 'variety store' or 'price-point retailer' is a retail store that sells inexpensive items, usually with a single price point for all items in the store. Typical merchandise includes cleaning supplies, toys, and candy. "Variety store" may also refer to a convenience store, especially in Canada, the Philippines, and in northern New England in the United States (where variety stores, unlike convenience stores, do not sell gasoline and often sell pizza and freshly made sandwiches).

Contents

Price points

Products

History

International

Europe

Asia

South America

Modern notable variety stores

North America

Europe

Asia

Australia

Economics

In popular culture

See also

Price points

The store is usually named for the price of the merchandise sold in the store (but see below); the names vary by area and time, as each country has a different currency, and the nominative price of the goods has increased over time due to inflation. Modern names include:

★ 'dollar store', $1.25 store, 99-cent store, etc. in the United States

★ 'Loonie store', or 'Toonie store' in Canada after the nicknames for the Canadian one- and two-dollar coins respectively. ''Dollar store'' is also used.

★ 'Pound' shop, £2 shop, 50p shop, etc. in the United Kingdom

★ '$2 shop' in Australia and New Zealand

★ 'Euro store', €2 store, etc. in the Rep. Of Ireland

★ '100-yen shop' or 'one coin shop' in Japan

★ '10-dollar shop' (USD 1.28), 8-dollar shop, etc. in Hong Kong

★ '5 y 10' in Mexico (selling everything at 5 and 10 pesos).

★ 'euroland' (formerly known as knakenland) in the Netherlands

★ 'Todo a 100' in Spain (former 100 pesetas = 0.60€)

★ '2.5 LE shop' in Egypt

★ 'Magasin à prix unique' in France

★ 'Wszystko po 5 złotych' in Poland

★ '100 forintos bolt' in Hungary

★ '38 000 lei shop' in Romania

★ 'Todo a peso' in Puerto Rico

★ 'Loja do 1,99' (BRL 1.99 = USD 0.90) in Brazil

★ 'Loja dos 300' in Portugal 300 escudos = 1,5 Eur

★ '49 to 99 shop' in India

★ '100 fils Shop' in Kuwait

★ '2 riyal Shop' in Saudi Arabia and other Gulf countries

★ 'Max20' (kroner) in Norway

★ 'Sve po 12/Sve po 13 (Kuna)' in Croatia

★ 'Всё по 10 рублей/Всё по 100 рублей' in Russia

Some variety stores are not true "single price-point" stores despite their name. Often the name of the store, such as "dollar store", is only a suggestion, and can be misleading. Some stores that call themselves "dollar stores", such as Dollar General and Family Dollar in the United States, have items that cost more or less than a dollar. Some stores also sell goods priced at multiples of the named price. The problem with the name is also compounded in some countries by sales tax, which leads to taxable items costing the customer more than a dollar. Some purists maintain that the phrase "dollar store", in the strict sense, should only refer to stores which sell only items that cost exactly $1.
Some stores can have prices which are not round multiples of currency, such as the "99-cent store" or "88-yen store". As inflation increases the nominative price of goods, the names of such stores must also change over time.

Products

Variety store products include cooking supplies, small tools, personal hygene supplies, kitchen supplies, organizational supplies, small office supplies, holiday decorations, electronics supplies, gardening supplies, home decor novelties, toys, pet supplies, out of print books, DVDs and VHS tapes, food products and automotive supplies.
Some items sold at a dollar store would be a dollar or less anyway, whereas other items are a substantially better deal. There are four reasons a dollar store is able to sell merchandise at such a low price:

★ The product is a generic or private label, often specially manufactured for such stores.

★ The product was manufactured cheaply for a foreign market but was then imported by an unauthorized distributor (grey market goods).

★ The product is purchased from another retail store or distributor as overstock, closeout merchandise, or seasonal merchandise at the end of the season.

★ The items were manufactured to coincide with the promotion of a motion picture, television show or special event (e.g. Olympic games), and are past their prime.
Some stores carry mostly new merchandise, some mostly closeout merchandise bought from other stores below regular wholesale cost.
Depending upon the size, some variety stores may have a frozen food and drink section, and also one with fruits and vegetables. The Deal$ and 99 Cents Only Store chains in the U.S. are two such examples. Some stores may have a section of single price point (dollar) items combined on the same premises with a section selling larger, relatively more expensive merchandise like CD players, lamps, and silverware. The flagship store of Jack's 99 and Jack's World in New York City is an example of such a store. Jack's 99 carries all types of items that retail for 99 cents, whereas Jack's World sells branded goods at discount prices.

History

The concept of the variety store originated with the 'five and dime', or 'dimestore', a store where everything cost either five cents (a nickel) or ten cents (a dime). The originator of the concept may be Woolworths, which began in 1878 in Watertown, New York. Other five and tens that existed in the USA included W.T. Grant, J.J. Newberry's, McCrory's, Kresge, McClellan's, and Ben Franklin Stores. These stores originally featured merchandise priced at only five cents or ten cents, although later in the century, the price range of merchandise expanded. Inflation eventually dictated that the stores were no longer able to sell any items for five or ten cents, and were then referred to as "variety stores". Given that $0.05 in 1913 when adjusted for inflation is $1.02 in 2006 dollars, this retailing concept has shown remarkable vitality over the years.
Well-known five and dimes included:

★ Duckwall-ALCO Retail Stores

★ Ben Franklin Stores

★ Butler Brothers

★ W.T. Grant

★ Kresge's

★ Kress Stores

★ McCrory Stores

★
★ J.J. Newberry

★
★ TG&Y

★
★ McLellan's

★
★ H.L. Green

★
★ G.C. Murphy

★ Neisner Brothers ("Big N" in later years)

★ Woolworth's

★ M.H. Fishman Stores

★ Duke & Ayres
Of these, only Duckwall-ALCO and Ben Franklin continue to exist.

International

Europe

In Spain there are 'Todo a 100' shops ("everything for 100 pesetas" (0.60 €)), although due to the introduction of the euro and inflation, most products cost a multiple of 0.60 or 1 euro. Most of these shops maintain their name in pesetas, and most of them have been renamed as 'Casi todo a 100' ("almost everything for 100 [pesetas]") or 'Todo a 100, 300, 500 y más' ("everything for 100, 300, 500 or more"). Coloquially, the expression ''"todo a 100"'' implies that something is either cheap, kitsch or low quality.

In Germany, there are 'ToBi' ('''TO'tal 'BI'llig'', which translates as "Very Inexpensive") stores where most items cost one or two Euro or less.

Asia

In Japan, '100-yen shops' (百円ショップ hyaku-en shoppu) or "One coin shops" have been proliferating across Japan since around 2001. This is considered by some an effect of decade long recession of Japanese economy.
For a few years, 100-yen shops existed not as stores in brick-and-mortar building, but as vendors under temporary, foldable tents. They were (and still are) typically found near the entrance areas of supermarkets.
One major player in 100 Yen Shops is Hirotake Yano, the founder of Daiso Industries Co. Ltd., which runs the "The Daiso" (sic) chain. The first store opened in 1991, and there are now around 2,400 stores in Japan. This number is increasing by around 40 stores per month.
In Hong Kong, department stores have opened their own 10-dollar-shop (USD 1.28) to compete in the market, and thus there are now "8-dollar-shop" (USD 1.02) in Hong Kong, in order to compete with a lower price. Note that there is no sales tax in Hong Kong, but the relative price is higher than in Japan or the US.
In India, they are known as 49 to 99 shops. Typical price range in these shops range between 49 to 99 Indian Rupees. 49 Rupees was approximately equal to one US dollar when these started, also 49 and 99 are near rounds of 50 and 100 respectively to draw the shoppers. Items are generally cheap gift articles, toys, watches, office stationery and crockery.

South America

In Brazil, these stores are called 'um e noventa e nove' (one and ninety-nine, meaning BRL 1.99, about US 90 cents) usually written as '1,99' (note the decimal comma). They began to appear in the decade of 1990 possibly as a consequence of both the increase in the purchasing power of the low income classes after the curbing of hyperinflation and the decrease in middle-class net income due to a gradual increase in the national average tax load.
Brazilians sometimes use the expression ''um e noventa e nove'' to refer to cheap, low quality things or even people.

Modern notable variety stores

Variety stores are often franchises.

North America

★ In the United States: Dollar Tree, Dollar General, Family Dollar, Deal$, Fred's, Kole Imports, 99 Cents Only Stores

★ In Canada: A Buck or Two (163+), Dollarama (300+), Everything For a Dollar Store, Great Canadian Dollar Store (100+)

★ In Mexico: Waldo's Dollar Mart

Europe

★ In United Kingdom: Poundland, Everythings a £1!, Superpound.

★ In the Netherlands: Hema originally a "guilder store", now a department store

★ In Germany: Pfennigland

★ In Malta: Tal-Lira

★ In France: Prisunic, Monoprix

★ In Norway: 'Tier´n', which is a colloquialism for ten kroner = USD 1.40.

★ In Sweden: 'Bubbeltian', called by some 'Tian', which is a colloquialism for ten kronor (crowns) = USD 1.25. Another chain that has been spreading in Sweden during the last seven years is Dollarstore [1], a chain where everything costs either 10, 20, 30, 40, 50 or 100 skr, which is supposed to roughly equal one, two, three, four, five or ten dollars. It is not related to the American store.

★ In Denmark: 'Tiger', which means tiger (the animal) aswell as being a pun on words for a ten kroner coin Danish krone (crowns). The chain is owned by corporation "Zebra". The Tiger chain recently begun releasing original music, after a campaign on the company's website found them several artists.

Asia

★ In Japan: Daiso, Daiei, Cando, Seria, Watts, Kyushu Plus, Mono Trading

Australia

★ In Australia: The Reject Shop, Go-Lo, Crazy Clark's, The Warehouse, Chicken Feed (Tasmania)

Economics

In economic terms, the pricing strategy of dollar stores is inefficient as some items may actually be sold elsewhere for less than a dollar. However, this is balanced by the marketing efficiencies of a single price structure and consumers accept potentially overpriced items. The pricing inefficiency becomes unacceptable at higher price points. Thus there are no "100 dollar stores" where all items sell for $100; consumers expect to pay the correct amount as inaccuracies result in significant dollar amounts.
Most merchandise in these stores is imported cheaply from foreign countries, most commonly in Asia. Usually merchandise is imported by a general merchandise importer/wholesaler, then sold to the stores at a wholesale rate.
Although some people may compare dollar stores with low-income areas, this comparison is not always necessarily true. For example, Atherton, California has a variety store within its city limits, even though it has an income of over $200,000 a year.

In popular culture

★ The play ''Come Back to the Five and Dime, Jimmy Dean, Jimmy Dean'' refers to a five and dime, as do the songs "Blank Page" by The Smashing Pumpkins, "Raspberry Beret" by Prince, "Love at the Five and Dime" by Nanci Griffith, "Summer of '69" by Bryan Adams, "Motherland" by Natalie Merchant (and covered in 2003 by Joan Baez) "It's Beginning to Look a Lot Like Christmas" by Meredith Wilson, "Thousands are Sailing" by The Pogues and "Rock My World (Little Country Girl)" by Brooks & Dunn.

★ Mort Dixon and Billy Rose wrote the song "I Found A Million Dollar Baby (In A Five and Ten Cent Store)" for Rose's 1931 stage show ''Crazy Quilt''.

★ The US late-night talk/variety show ''The Tonight Show'' often features a segment called "99 Cent Shopping Spree" with odd or unusual dollar store items sent in by viewers.

★ The Simpsons featured a 99 Cent store, followed by a 66 Cent and 33 Cent Store in episode S09E12 (Thirty Minutes Over Tokyo).

See also

★ Retail

★ Marketing

★ List of marketing topics

★ Distribution (business)

★ Department store

★