A discount store is a type of department store, which sells products at prices lower than those asked by traditional retail outlets. Most discount department stores offer a wide assortment of goods; others specialize in such merchandise as jewelry, electronic equipment, or electrical appliances. Discount stores are not variety stores, which sell goods at a single price-point or multiples thereof (£1, $2, etc.). Discount stores differ from variety stores in that they sell many name-brand products, and because of the wide price range of the items offered. Following World War II, a number of retail establishments in the U.S. began to pursue a high-volume, low-profit-margin strategy designed to attract price-conscious consumers.
Currently Wal-Mart, the largest retailer in the world, operates more than 1,300 discount stores in the U.S. Target and Kmart are Wal-Mart's top competitors. Wal-Mart as of 2004, owns 90% of the Asda chain of supermarkets in the UK. As of 2008, the main rival to Asda is Tesco.
Read more about Discount Store: History
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