Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

The $2 Shop - No Name Changes or Price Rises

The $2 Shop - No Name Changes or Price Rises Guaranteed

The founder of ‘The $2 Shop’ franchise has guaranteed consumers that the group will not be changing its name and the 39 New Zealand stores will not be raising their prices.

“Unlike our imitators, ‘The $2 Shop’ will not be adversely influencing the consumer price index or be forced to rebrand itself as a $3 store,” says Brian Salmon, founder of ‘The $2 Shop’ chain.

“We are the fastest growing retail franchise in New Zealand and sales have increased markedly over the past 12 months, despite the widespread pessimism that is currently surrounding the retail sector.”

The first ‘The $2 Shop’ opened in New Plymouth in mid 1994 with a second store opening in Palmerston North in December that year. The national chain of 39 shops now turnover nearly $25 million a year from more than 3.8 million customers.

“In the last two month’s we’ve reopened the shop in Wanganui and opened a new store in New Zealand’s largest shopping centre, Botany Town Centre in East Tamaki.

“It’s the certainty of walking into any store and knowing that any item in the whole shop can be bought for $2 that makes ‘The $2 Shop’ so popular.

“Our accumulated range of products has grown to over 8,000 and currently includes toys, stationery, greeting cards, apparel, hardware, cosmetics, toiletries, costume jewellery, confectionery, and kitchen ware.”

Goods are sourced from New Zealand and a number of overseas suppliers and quality is assured through a centralised buying office in New Plymouth, and through a full replacement or refund policy (with proof of purchase) should anything bought at an original ‘The $2 Shop’ prove defective.
2

While at $2 all the products may be affordable Mr. Salmon says that, in order to maintain a consistent presentation across the group’s stores, each store now costs between $180,000 and $250,000 to open.

Mr. Salmon owns three of the chain’s outlets including the original ‘The $2 Shop’ in New Plymouth and stores in Lynnmall (New Lynn) and Wanganui. Most of the other 36 stores are run by owner operators or are family businesses with more than 150 people working in the chain throughout New Zealand.

“Several franchisees who started with one store have since bought a second franchise area or opened a second store within their territory.

“The $2 Shop and the $2 price is here to stay, you have my word on that,” says Mr. Salmon.

Ends


Issued on behalf of ‘The $2 Shop’ by Weber Shandwick (04) 472 4190


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>