Retailers Forum Magazine - March 2024

RETAILING NEWS
Dollar General Competing with Grocers
DISCOUNT retailer Dollar General has surpassed its latest milestone and is now offering fresh
products options in more than 5,000 if its stores across the country. With this move the chain has more
individual points of produce distribution than any other mass retailer or grocer in the United States.
WITH their stores carrying the top 20 items typically sold in grocery stores the company has
solidified its standing in the market space. In addition, the chain carries produce, fresh fruits and
vegetables and more. While the company is not considered a grocer, approximately 80% of Dollar
General stores service communities of 20,000 or fewer people, with many Americans, especially in
rural areas, relying on the retailer for their basic every day and household essentials.
IN addition, Dollar General recently invested in a partnership with Shelf Engine, an AI company
providing retailers with technology to improve perishable food forecasting and ordering. If you have
been in a dollar store lately you will notice they have come a long way over the last few years
including price points over the one dollar level.
Madison Avenue Still Luxury Destination
THE country’s longest luxury venue continues to attract high end businesses ranging from
designer shops to hotels, restaurants and galleries. Madison Avenue in New York City continues to
rebound with almost two dozen new projects on tap for this year, on top of the 32 businesses that
opened during the last half of last year. This business improvement area extends from East 57th to
East 86th Streets along Madison Avenue.
AMONG the projects currently under development are Dolce & Gabbana, Giorgio Armani,
Lalique, Michael Kors, Oscar de la Renta, Peter Millar, Nobu Hotel and Spa, Sotheby’s, Swarovski,
Surrey New York, Van Cleef & Arpels and others.
THE wave of openings and projects in the works demonstrates the resilience of high luxury brands
investing in larger stores to more fully present their collections. Madison Avenue vacancies declined
to just over 10 percent, with rents increasing an average of 36.7% since last year.
Nordstrom Makes Room for Shoes
DID you know that Nordstrom was originally debuted as a shoe store back in 1901? The iconic
store is highlighting its heritage by relaunching its “Make Room for Shoes” campaign. The campaign
will start up with monthly partnerships with some of the industry’s most famous footwear brands.
The store will feature a curated selection of new styles, exclusive, dedicated visual displays and
shopping experiences. This year long project will live in all Nordstrom stores and on their online site.
NORDSTROM has a commitment and passion to shoes that date back more than a century so
this venture is very natural for the brand. Additional partners will be added every month making this
a very interactive and exciting experience for shoppers who want to sample these new offerings
from the iconic brand.
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Page 14 MARCH 2024 | RETAILERS FORUM MAGAZINE