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As consumer behavior has changed significantly since the onslaught of the COVID-19 pandemic, inflation is having a momentous impact on drug and dollar store channels, experts note.
As the dollar and drugstore channels are expected to continue with revenue increases, the ongoing COVID-19 pandemic carries mixed impact for retailers.
Liquid Management Partners, the manufacturer of Liquid Ice Energy Drink, announced the launch of its first seasonal packaging: Liquid Ice America. With its red, white and blue patriotic packaging, Liquid Ice America will be available throughout the summer in 12-ounce cans at participating retailers in more than 40 states through select Anheuser-Busch, MillerCoors, PepsiCo and Coca-Cola distributors.
As today’s consumers spend their dollars across more channels and store formats, retailers are facing increased competition for dollar share, experts note. Despite this fact, the overall discount retail channel performed “quite well” last year as dollar stores drove growth of nearly 7 percent, notes Jon Hauptman, senior director of retail at Long Grove, Ill.-based Willard Bishop Co., an Inmar analytics company.
Between 2010 and 2015, high unemployment, stagnant disposable income, volatile energy costs and a changing mass-market perception of dollar stores contributed to a 3.3 percent growth rate, $66.7 billion in revenue and a $2.6 billion profit for the channel, according to IBISWorld’s September 2015 report titled “Dollar & Variety Stores in the US.”
During the recession, the countercyclical discount retail channel experienced years of growth, even to the point of becoming one of the fastest-growing retail channels during the time period, according to “Dollar & Variety Stores in the US,” an April 2014 report by IBISWorld.