Sunday, March 26, 2006
Dollar Store
In the past few months, the discount retail trend so popular in the US and Japan has taken root in India —the $1 store. Of course, it is fundamentally strange to think shopping for American ‘discounts’ in India when one of the most striking things about living here is how you can find so many things at a fraction of the cost that you would spend for the same in the US. But what makes this so ironic is that, in fact, things are not priced at $1 each, but 100 rupees, which is about $2.25! For this reason, while much of the items are the kinds of surplus things that you find in a dollar store in the US —cleaning agents, sugar laden cereals, off-brand canned goods—shoppers here in India end up paying over TWICE the amount for the same crap! Now there is a business plan with serious hubris.
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