Dollar Tree is an organization that sells a variety of goods priced at one dollar. For a dollar, consumers are able to purchase a wide assortment of general goods. Such as food, toys, housewares, cleaning supplies, health and beauty aids, hardware, books, stationery, paper products, and other consumer items. Initially, Dollar Tree was known as a toy store. It wasn’t until 1986, three men, J. Douglas Perry, Macon F. Brock Jr., and H. Ray Compton decided to open “Only One Dollar, Inc.”. In 1991, the owners decided that instead of selling toys, they will sell a variety of goods priced at no more than a dollar. A few years later in 1993, the company changed its name to Dollar Tree Stores, Inc. Expansion quickly followed. Three years later, Dollar …show more content…
Douglas Perry, Macon F. Brock Jr., and H. Ray Compton decided to open “Only One Dollar, Inc.”. During that time, Perry became chairman of the new company, Brock served as president, and Compton was executive vice-president and chief financial officer. A few years later in 1993, Macon Brock, Jr., was named CEO. Six years later, Bob Sasser was hired as Chief Operating Officer. In 2001, Bob became President and Chief Operating Officer. Shortly after in 2004, Bob was promoted, to President and Chief Executive Officer while Macon Brock continued as Chairman of the Board. Fast Forward to 2017, Gary Philbin, was promoted to Enterprise President and Chief Executive Officer of Dollar Tree, Inc. and appointed to the Board of Directors while Bob Sasser continued as Chief Executive …show more content…
For a dollar, consumers are able to purchase a wide assortment of general goods. Such as food, toys, housewares, cleaning supplies, health and beauty aids, hardware, books, stationery, paper products, and other consumer items. Target Market Dollar Tree target market and audience consist of lower to middle income families. Generally speaking, women between the ages of 24-34 and 55-64 tend to shop more at Dollar Tree than any other demographic. Additionally, African Americans and Hispanics with an income of 24k-40k with no college experience shop more at Dollar Tree than any other demographic. Locations Location is extremely important to Dollar Tree. The company operates more than 14,500 stores across 48 states and five Canadian provinces. “The company tend to be located in more densely populated areas. The typical store is approximately 10,000 gross sq. ft. with at least 70 ft. of store frontage. All stores incorporate the same philosophy: Bright Stores, Big Signs, and a Clean Environment. When creating a new store, Dollar tree looks for freestanding locations with a strong retail corridor and street presence that has an easy ingress/egress, and ample parking”