Memphis’ Uptown Neighborhood is abuzz with the possibility that a brand new Family Dollar could be constructed at Chelsea and Thomas just across from another, still relatively new Family Dollar, also located at Chelsea and Thomas.
“Value is attractive to everybody, but some people just won’t cross the street for it,” says Earl Gray, the founding director of Solutionista, an innovation firm that advises management at large discount chains, showing CEOs worldwide why ideas that don’t seem to make any sense really do.
“As long as they put a sign in the window advertising ‘discount cigs,’ I’m confident that this Family Dollar will do every bit as well as the one across the street,” Gray says. “And, due to recent population shifts, it could potentially outperform the original within 3- to 5-years of opening.”
According to Gray, having the word “family” in its name is just one of many reasons why Family Dollar can build a new store across the street from a nearly new one.
“It makes you feel at home wherever you are. You know right off it’s a place where you can buy your discount cigs without having to worry about whether or not your children are being exposed to the wrong ‘As Seen on TV’ products,” he says.
