Popular retailers Ross, Dollar General, and Michaels Reveal their plan for major expansions to entice shoppers.

Akhil A Pillai

As inflation remains a concern, retailers are looking for ways to entice customers in 2023. Despite a decline in sales during the 2022 holiday shopping season, retail sales in January 2023 increased by 3%. However, consumers are still selective with their purchases, and some are avoiding certain stores altogether. To win back shoppers, popular retailers Ross, Dollar General, and Michaels are making moves to expand their physical and online offerings.

Ross Stores, Inc. recently opened 19 new locations in California, Texas, Florida, and Wisconsin, including 11 Ross stores and 8 dd's Discounts stores. The company plans to add approximately 100 new stores in 2023, 75 of which will be Ross stores and 25 will be dd's Discounts stores, with a long-term goal of 2,900 Ross stores and 700 dd's Discounts stores. Dollar General is focusing its expansion efforts on its pet food line, Nature's Menu, which was recently reformulated and rebranded as a "super premium dog and cat food brand" with prices ranging from $7 to $20 per bag. Michaels, on the other hand, is expanding its online offerings through its new online marketplace, which offers over one million products, quadrupling the company's online assortment. The marketplace connects Michaels shoppers with a curated selection of third-party sellers in various categories.

While retailers are hopeful for increased spending in 2023, consumers are still wary of high prices and are prioritizing value and convenience. Retailers are responding by offering more options, from physical expansion to revamped products and expanded online offerings. By providing more value and options to consumers, retailers hope to win back their loyalty and spending power.

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