Press Release Summary = 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
Press Release Body = 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 retailer shoppers that whatever they order is in stock, ready to ship.
"Through easy navigation, a retailer can place a $10,000 order within minutes," Stevens says. While all products are offered online, the company also produces a new 200 page catalog every 60 days for the benefit of customers who prefer to shop that way. Concord operates from more than 500,000 square feet of warehouse space at four locations in Los Angeles. The Los Angeles location, close to the harbor, is another benefit to Concord's customers, Stevens points out. "When warehouses are located in the middle of the country, they accrue added transport costs. Being located where the overwhelming majority of products arrive helps us keep costs down and pass those savings along to our retailer customers," he says. "This is the mecca of the general merchandise industry," he adds. Because Concord is a one stop source for all dollar store product categories, retailers also have the benefit of consolidating their orders for all store sections into single shipments, thereby obtaining the most efficient freight rates.
Concord takes this advantage one step further. It invites retailers who carry products it does not sell, such as furniture, for example, to have those orders delivered to a Concord warehouse. Concord will then consolidate those products into its containers, at no extra charge, reducing overall transport costs even more for its customers. "It's a way of combating high gasoline costs, " Shayan says. Typically, orders are shipped within 48 hours. As dollar stores have grown to become one of the fastest growing segments of the retail universe, more and more stores are attempting to recapture that value end of the business by configuring dollar sections. And new companies are entering this field at a rapid rate.
Because Concord is a dollar store pioneer, it has a wealth of knowledge about how to maximize dollar store sales, and its staff stands ready to share that knowledge. "At no charge, we will help people get into this business and succeed," Shayan says. "We'll provide planograms, a top selling merchandise mix of products at the right price point, for sections of as little as 1,000 square feet to a full store. Since we cover all product categories, we can fulfill all the retailer's needs and supply the section at a single shipping charge," he adds. Concord has a fleet of 10 trucks delivering to stores in the Greater Los Angeles market. For others, it promises that on orders of $2,500 or more, the cost of shipping and handling will not exceed 15 percent of the cost of the goods. As a power house, it has the clout and the expertise to obtain the most efficient and best possible rates.
2022
