Fix Price

Fix Price is a retail format that sells a variety of products at a single price point. This retail strategy is also known as dollar store, pound shop, or euro store, depending on the currency of the country where the store is located.

History

The concept of Fix Price originated in the United States in the late 19th century with the establishment of five and dime stores. These stores sold a variety of items, all priced at either five or ten cents. The concept has since evolved and spread to other countries, with stores now offering products at a variety of fixed price points.

Business Model

The business model of Fix Price stores involves sourcing inexpensive products, often from wholesale suppliers or overstock from other retailers, and selling them at a fixed price. This allows the retailer to keep costs low and offer products at a price that is affordable for a wide range of consumers.

Advantages and Disadvantages

The main advantage of Fix Price stores is their affordability. Because all items are sold at a single price point, consumers know exactly how much they will spend before they enter the store. This can be particularly appealing to budget-conscious shoppers.

However, there are also disadvantages to the Fix Price model. The quality of products can be variable, and the range of products available is often limited. Additionally, because the price is fixed, there is no opportunity for consumers to negotiate or seek discounts.

Fix Price in Different Countries

Fix Price stores can be found in many countries around the world. In the United States, they are often called dollar stores, while in the United Kingdom they are known as pound shops. In the Eurozone, they are referred to as euro stores.

See Also

• Discount store
• Variety store
• Convenience store