A variety store is a retail store that offers a wide range of items typically in the low to moderately priced range, primarily targeting the family market. These stores carry merchandise such as apparel, women’s accessories, gift items, and stationery, among others. They aim to provide convenience and affordability to the consumer.
History of Variety Stores
Origins and Evolution
The concept of variety stores began in the late 19th and early 20th centuries. Early examples include Woolworth’s, which opened in 1879 and became a pioneer in this retail category. Originally, the stores focused on items costing five and ten cents, leading to the colloquial term “five-and-dime” stores.
Modern Adaptations
Over the years, variety stores have evolved to adapt to changing consumer demands and economic conditions. Modern versions include dollar stores and discount retailers, which maintain the core principle of offering a broad assortment of inexpensive goods.
Merchandise Offered
Apparel
Variety stores often carry a range of clothing items for men, women, and children. This includes everyday wear, seasonal clothing, and basic accessories.
Women’s Accessories
Items like handbags, scarves, jewelry, and hair accessories are commonly found, catering to fashion needs at affordable prices.
Gift Items
Variety stores provide a selection of gifts suitable for various occasions, including birthdays, anniversaries, and holidays. These can range from decorative items to toys and gadgets.
Stationery
A staple in variety stores, stationery items include notebooks, pens, office supplies, school supplies, and crafting materials.
Business Model and Strategy
Target Market
The primary market for variety stores is families looking for affordable and convenient shopping options. These stores are typically located in easily accessible locations such as downtown areas, shopping centers, and suburban strip malls.
Pricing Strategy
By focusing on low-cost goods, variety stores attract a broad customer base, including budget-conscious shoppers. They often employ high-turnover strategies, where the affordability of goods encourages frequent purchases.
Inventory Management
Effective inventory management is crucial for variety stores due to the wide range of products they carry. They employ techniques such as Just-In-Time (JIT) inventory systems to reduce storage costs and keep the shelves stocked with in-demand items.
Comparisons and Related Terms
Discount Stores
While discount stores also offer a variety of low-cost items, they tend to focus more on brand names and larger quantity purchases compared to variety stores.
Department Stores
Unlike variety stores, department stores offer a wider range of higher-end products, often organized into distinct departments, and may not focus as heavily on low pricing.
FAQs About Variety Stores
What differentiates variety stores from convenient stores?
Convenience stores focus more on quick essentials such as snacks, beverages, and emergency household items, whereas variety stores offer a broader range of products including clothing and gifts.
Are variety stores the same as dollar stores?
While similar in concept, dollar stores often have a more explicit pricing strategy, with most items priced at or around one dollar. Variety stores offer a broader price range but still aim for affordability.
How do variety stores maintain profitability with low pricing?
They rely on high sales volumes, cost-effective inventory management, and limited service overheads to maintain profitability.
Summary
Variety stores fill an important niche in the retail market by providing a broad array of low-cost items that cater to the everyday needs of families. From their historical roots in five-and-dime stores to modern manifestations like dollar stores, they continue to evolve, offering convenience and economic value to consumers. With a thoughtful business model that emphasizes affordability and accessibility, variety stores remain a staple in the retail industry.
References
- Woolworth’s Historical Society
- “Retail Management: A Strategic Approach” by Barry Berman and Joel R. Evans
- National Retail Federation
By understanding the fundamentals and intricacies of variety stores, one gains insight into their significant role in the economy and retail landscape.
