As prices continue to grow, dollar stores are attracting increased foot traffic and repeat visits from consumers looking for value, according to a Placer.ai analysis.

Dollar General is the nation's largest dollar store. It surpassed 20,000 U.S. locations during the second quarter after opening nearly 200 new stores. Meanwhile, Dollar Tree has 8,300 locations, including 100 new stores opened this year. Both chains have indicated they plan to continue to expand, with Dollar General expecting to open a total of 730 new stores in 2024 and Dollar Tree expanding through the takeover of 170 stores from the 99 Cents Only brand.

These expansions are helping drive sustained foot traffic gains. During the second quarter, Dollar General had a 13.1% year-over-year increase in foot traffic while Dollar Tree's visits grew 8.4% year-over-year, according to the analysis. The only deviation from the trend of increased foot traffic for the dollar stores through the first 7 months of the year was a dip in traffic in April for Dollar Tree, which Placer.ai attributed to a shift in demand for holiday merchandise due to the timing of Easter.