Back in 1982, when Ted Shayan was importing and wholesaling general merchandise, “There was a very limited amount of merchandise for dollar stores,” then a fledgling segment of the retail industry.
June 1, 2007 (Press Release) --
From Dollar Store Pioneer to Power House Back in 1982, when Ted Shayan was importing and wholesaling general merchandise, “There was a very limited amount of merchandise for dollar stores,” then a fledgling segment of the retail industry, he recalls. Shayan, a co-owner of Concord Enterprises Inc., located in Los Angeles, became a pioneer in supplying that emerging field. It turned out to be a very smart call. According to Shane O’Sheeran, show manager of Dollar Store Expo, the dollar store retail segment accounted for $40 billion in sales in 2004 and is projected to maintain a steady pace of growth over the next decade. Since founding Concord, Shayan has consistently added product categories, building his company into a one-stop source for the burgeoning dollar store segment and for other retailers who are adding dollar sections to their existing product mix.
“Our strength lies not only in the fact that we can supply all product categories, but also that we focus primarily on everyday items,” Shayan says. “Everyday items sell fast, because they’re consumable. They bring customers back into stores on an everyday basis,” adds Todd Stevens, Concord’s marketing director.
“That’s increased business for the retailer and everyday exposure to all of the products the store sells,” he explains. By focusing on a broad selection of consumables, the widest possible range of product categories, good quality and strong customer service, Shayan says, “Both our sales volume and our customer base has expanded every year since 1982. Quality is a very important aspect of our selection,” he adds. “The American consumer isn’t fooled by cheap merchandise. ” The dollar store segment has burgeoned, and it is recession proof, he also notes. “When the economy is bad, this segment still remains very strong, because people must still buy everyday items, and they are looking for the best value. ” About 10 years ago, Concord began a website, “Initially as a tool for business,” Shayan says. “During the past five years, it has really become a booming portion of our overall business and it’s become one of our best selling tools. We get thousands of visits everyday.” This did not come automatically. Concord invested in technology that makes it easy for retailers to identify products of interest and expedite their shopping quickly and reliably. The company created a whole new division, adding approximately 60 new people to support Internet and catalog sales. “This has increased our customer base not only throughout all of the U.S., but also all around the world, ” Shayan reports. Thus, Concord has a multilingual sales force, ready to help customers wherever they are. “Currently, the Euro is so strong, we are getting a lot of European customers who can obtain exceptional values from our company,” he explains. The website, www.dollaritem.com, contains approximately 10,000 items, and the site is updated from inventory in real time, assuring reta
“Our strength lies not only in the fact that we can supply all product categories, but also that we focus primarily on everyday items,” Shayan says. “Everyday items sell fast, because they’re consumable. They bring customers back into stores on an everyday basis,” adds Todd Stevens, Concord’s marketing director.
“That’s increased business for the retailer and everyday exposure to all of the products the store sells,” he explains. By focusing on a broad selection of consumables, the widest possible range of product categories, good quality and strong customer service, Shayan says, “Both our sales volume and our customer base has expanded every year since 1982. Quality is a very important aspect of our selection,” he adds. “The American consumer isn’t fooled by cheap merchandise. ” The dollar store segment has burgeoned, and it is recession proof, he also notes. “When the economy is bad, this segment still remains very strong, because people must still buy everyday items, and they are looking for the best value. ” About 10 years ago, Concord began a website, “Initially as a tool for business,” Shayan says. “During the past five years, it has really become a booming portion of our overall business and it’s become one of our best selling tools. We get thousands of visits everyday.” This did not come automatically. Concord invested in technology that makes it easy for retailers to identify products of interest and expedite their shopping quickly and reliably. The company created a whole new division, adding approximately 60 new people to support Internet and catalog sales. “This has increased our customer base not only throughout all of the U.S., but also all around the world, ” Shayan reports. Thus, Concord has a multilingual sales force, ready to help customers wherever they are. “Currently, the Euro is so strong, we are getting a lot of European customers who can obtain exceptional values from our company,” he explains. The website, www.dollaritem.com, contains approximately 10,000 items, and the site is updated from inventory in real time, assuring reta
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