Dollar General Corp. DG has launched several holiday sales promotions in an effort to win back inflation-weary consumers as mega-retailers Walmart, Inc. WMT and Amazon.com, Inc. AMZN aggressively lower prices.
The Details: Dollar General has been losing customers to larger retailers as consumers have become more value-focused as they grapple with inflation. In an effort to regain market share, the discount retailer is running several holiday season promotions similar to offerings from its competitors, including Walmart and Amazon.
Dollar General has announced weekly three-day DG Deal Days sales events that begin on Halloween and run every Thursday, Friday and Saturday through Dec. 21. DG Deal Days will feature 25% and 50% off discounts and buy one, get one promotions.
Walmart ran a similar sales event, Walmart Holiday Deals, which featured five days of discounts in early October and continues as an extended holiday deal event through Dec. 25. Amazon hosted its shorter, annual Prime Big Deal Days sale on Oct. 8 and Oct. 9 which aims to capture early holiday spending with deals.
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Dollar General is offering recipe-focused Thanksgiving meal deals, similar to the inflation-free holiday meal promotion from Walmart. The sale features ‘buy two, get one’ bundle deals including ingredients for pumpkin pie, green bean casserole and sweet potato casserole.
Additionally, Dollar General has launched a holiday toy guide for the 2024 season, reflective of the toy guides released by Amazon and Walmart each year. The discount retailer’s toy guide will focus on affordability and features toys priced under $20, with most toys available for $10 or less.
Why It Matters: CEO Todd Vasos acknowledged in the company’s most recent earnings report that Walmart and Amazon’s strength in attracting budget-conscious shoppers has contributed to Dollar General’s recent struggles.
“While we believe the softer sales trends are partially attributable to a core customer who feels financially constrained, we know the importance of controlling what we can control,” the CEO said. “With the evolving retail and consumer landscape in mind, we are taking decisive action to further enhance our value and convenience offering, as well as the in-store experience.”
DG Price Action: According to Benzinga Pro, Dollar General shares ended Friday’s session down 1.25% at $80.38.
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Image: Courtesy of Dollar General Corporation
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