Business Insider/Jessica Tyler Five Below sells all sorts of things for under $5, and it was packed with shoppers when we visited.
- Five Below is a discount-store chain that sells everything from books to clothes for under $5.
- Five Below is one of several dollar stores that have been doing well lately, like competitors Dollar General and Dollar General. In the first quarter of 2018, Five Below's comparable sales increased by 3.2%.
- It plans on opening 125 new stores by the end of the year.
Five Below is thriving.
Five Below, a discount-store chain that sells everything from school supplies to clothes to candy for under $5, is one of several chains that have recently found success selling extremely low-priced products. From 2010 to 2015, dollar-store sales grew from $30.4 billion to $45.3 billion in the United States. Dollar General, Dollar Tree, and Family Dollar all announced plans to open hundreds of stores this year, with Dollar General planning to open 900 more locations in the US in 2018.
Five Below announced its own plans to grow earlier this year, with 125 new stores on their way by the end of 2018 in addition to the 625 stores it already operates. One of those stores will be a flagship location on New York's Fifth Avenue, one of the most expensive shopping destinations in the US, CNBC reported.
Five Below is one of the country's fastest-growing retailers, with sales up 28% year-over-year, according to data from Kantar Consulting. In the first quarter of 2018, Five Below's comparable sales grew by 3.2%.
One of the biggest draws of Five Below is that everything at the store truly costs under $5. You can find beach chairs, clothes, books, electronics, and school supplies for well below the price of similar products at other retailers.
We visited a location of the discount chain in Queens, New York. This is what we found: