One Buck at a Time: An Insider's Account of how Dollar Tree Remade American Retail
For over thirty years, Dollar Tree has succeeded at something the retail industry thought impossible: selling goods of surprising quality for no more than a dollar apiece, and in the process earning profits that defy common sense.In One Buck at a Time, company cofounder Macon Brock leads readers through the twisty path that saw Dollar Tree mushroom from a humble five-and-dime in Norfolk, Virginia, into one of the fastest-growing businesses in America--one that today operates more than 14,000 stores, provides jobs for 165,000 people, and is climbing the Fortune 500.During every step of its growth, Dollar Tree has had to re-prove its concept to people who can't believe its success. Not long after entering the marketplace, the company faced a crisis of conscience. In view of inflation and pressure from suppliers, how long could it stick to its one-dollar price point? Would it have to abandon its founding principle and become just another Walmart competitor?Brock devised an experiment--he acquired a mixed bag of items Dollar Tree could sell for one dollar, for two dollars, for three and five, dumped them on a desk, and asked company officials to separate them into price piles.They couldn't do it. Even Brock was surprised.One Buck at a Time is an informal history of budget retail and a how-to on doing it right. Brock credits everyone from executives to store managers and associates for their devotion to a corporate culture of value and service. And yes, he paints an entertaining picture of how Dollar Tree fulfills its mission--how it scours the globe to maintain the all-important price point while fashioning a product mix that never fails to surprise and delight.