A discount store is a type of department store, which sells products at prices lower than those asked by traditional retail outlets. Most discount department stores offer a wide assortment of goods; others specialize in such merchandise as jewelry, electronic equipment, or electrical appliances. Discount stores are not variety stores, which sell goods at a single price-point or multiples thereof (£1, $2, etc.). Discount stores differ from variety stores in that they sell many name-brand products, and because of the wide price range of the items offered. Following World War II, a number of retail establishments in the U.S. began to pursue a high-volume, low-profit-margin strategy designed to attract price-conscious consumers.
Currently Wal-Mart, the largest retailer in the world, operates more than 1,300 discount stores in the U.S. Target and Kmart are Wal-Mart's top competitors. Wal-Mart as of 2004, owns 90% of the Asda chain of supermarkets in the UK. As of 2008, the main rival to Asda is Tesco.
Read more about Discount Store: History
Famous quotes containing the words discount and/or store:
“Don’t discount our powers;
We have made a pass
At the infinite,”
—Robert Frost (1874–1963)
“Finishing schools in the fifties were a good place to store girls for a few years before marrying them off, a satisfactory rest stop between college weekends spent husband hunting. It was a haven for those of us adept at styling each other’s hair, playing canasta, and chain smoking Pall Mall extra-long cigarettes.”
—Barbara Howar (b. 1934)