Thanks for Visiting!

Register for free to get the full story.

Sign Up
Already have a Placer.ai account? Log In

Five Below’s Back to School Success

by 
Shira Petrack
 on 
August 30, 2022
Five Below’s Back to School Success

With Back-to-School shopping in full swing, we dove into visits to Five Below to see how this fast-growing discount retailer is pulling ahead of the wider dollar & discount store category. 

Five Below Still Outperforming Wider Dollar & Discount Store Category 

Inflation may be slowing down, but high prices are still impacting shopping habits, with consumers looking to stretch their budgets driving a 16.4% increase in foot traffic to the category relative to January 2022. But despite the strength of the wider category, Five Below continues to outperform the dollar and discount store average. July 2022 foot traffic to Five Below was up 41.8% relative to January 2022 – more than double the wider discount and dollar store increase. 

Five Below’s success relative to the already strong discount and dollar store category shows that the company is not just riding the current wave of heightened demand for value-priced merchandise. Instead, Five Below has made some key strategic moves over the past two years that is setting the brand apart within the crowded discount superstore space

Five Below’s Long-Term Visit Gains

Following an exceptionally strong 2021, foot traffic to Five Below is no longer increasing at the rate it was last year – but visits are remaining above pre-pandemic levels while continuing to trend up. Between January and June (H1) 2022, foot traffic to the brand grew a whopping 55.2% on a year-over-three-year (Yo3Y) basis and increased an average of 8.0% compared to the same period in 2021. And although Five Below is expanding rapidly, the growth is not just due to the company’s larger store fleet – visits per venue in the first half of 2022 were up 15.3% Yo3Y and up 2.8% relative to H1 2021. 

Five Below Foot Traffic Boosted by Back to School

Five Below’s strength is continuing in the second half of 2022, with the weekly Yo3Y foot traffic increase growing progressively larger as the Back-to-School shopping season picks up steam. Overall Yo3Y weekly visits for the week of July 4th, 2022 were up 33.5%, but rose to 54.9% for the week of August 15th, 2022. And while the chainwide increase in foot traffic is impressive in its own right, the growth in visits-per-venue has been truly remarkable - from a 2.7% increase in Yo3Y visits-per-venue for the week of July 4th, 2022 to a 20.6% increase in visits per venue for the week of August 15th, 2022. 

Five Below’s success in bringing more consumers to stores can be partially attributed to the brand’s remodeling efforts. The company has been refreshing and optimizing its store format since 2008, and introduced the latest iteration – the “Beyond prototype”, which includes a higher-priced “Five Beyond” section – in 2020. In June 2022, the retailer announced that all new Five Below stores would operate under the new store prototype, and that the company was on track to convert 200 existing Five Below locations to the “Beyond” format by the end of the year. 

The “Five Beyond” concept allows the company to sell a wider range of products, especially in the home furnishings and tech categories – including coveted back-to-school items such as scientific calculators. With students and parents in the market for tech gadgets and dorm furniture that won’t break the bank, the new store concept may explain why this year’s August foot traffic is substantially higher than it was in August 2019, before the launch of ”Beyond Five.” 

With the dollar store space becoming increasingly competitive, Five Below continues to find ways to set itself apart from the pack. 

For more data-driven retail insights, visit placer.ai/blog.   

Get 3 brand & industry
breakdowns every week

Subscribe to the newsletter

Great! Prepare your inbox for data-driven insights...
Oops! Something went wrong while submitting the form.

Get a Demo

Please enter your first name
Please enter your last name
Please provide a valid email
Please enter your email
Please enter company name

Thanks for reaching out!

One of our experts will be in touch soon

Try Placer.ai Free
Oops! Something went wrong while submitting the form.
In-N-Out Burger: What to Expect as the Brand Moves East
Location Intelligence Breakdown: Coffee Caps-Off 2022
Digitally Native Brands Lean Into Brick & Mortar
Washington, D.C. Population Changes & Migration Trends
A Location Intelligence Perspective on Macy’s Rightsizing
Amazon-Powered Shopping: The Future of Brick-and-Mortar Grocery?
Cold Weather, Hot Visits: Diving into Winter Resorts
Wawa and 7-Eleven: Leaning Into the “Slurpee Effect”
2022 and Beyond: Catching Up With McDonald’s & Chipotle
Let’s Have Some Fun! Going Out Is In
Placer.ai’s Q4 2022 Quarterly Index
Placer.ai Adds Industry Executives to Leadership Team To Drive Company's Next Phase of Growth
5 Emerging Retail Formats: 2023’s Brick-and-Mortar Evolution
Grocery Update: Zooming in on the Lone Star State
2022 Office Recap: The Year of the TGIF Work Week
What Lies Ahead for Brick-and-Mortar Luxury in 2023
Placer.ai Mall Indexes: December 2022 Recap
Looking Back on 2022’s Holiday Shopping Season
Post-Pandemic Migration Trends in New York
Top Retailers for 2023
The Live Sports Advertising Opportunity
Domestic Migration to the Mountain States: Small Shifts with Big Implications
New Year, New Food: 5 Dining Trends For 2023
Announcing Placer.ai’s COVID RECOVERY DASHBOARD
This is Why Shop-in-Shops Are Everywhere
Super Saturday 2022 Recap
The San Francisco Shift
Grocery Year-End Update: Publix in the Spotlight
Three Ways Retailers Can Think Small to Increase Store Impact
Offline Beauty Is on an Upswing
The Evolving Migration Patterns of New York’s Florida Snowbirds
Placer.ai Office Index: November 2022 Recap
How Viral Social Media Trends Can Drive Offline Engagement
Are You Ready for Some Football? Experiential Marketing Shows Promise
Mall and Shopping Center Trends For 2023
Retail Corridors and Indoor Malls: A Holiday Head-to-Head
Placer Bytes: Nike, lululemon, and GameStop Update
Placer.ai Mall Indexes: November 2022 Update
Black Friday 2022: Consumers Hear the Call
Digitally Native Brands: Taking Off, Offline
Discount and Dollar Stores Leading the Pack
Turkey Wednesday 2022
Retail’s Evolving Holiday Season
Placer Bytes: Starbucks and Department Stores Ahead of Black Friday
Ulta: A Force to be Reckoned With
College Towns Drive Dining Growth
Foot Traffic Trends Reveal Consumers Ready for Holiday Cheer
How Retailers Can Win Big By Going Small
How Are Consumers Feeling Ahead of Black Friday 2022?
Off-Price, Hibbett, and Dick’s Pre-Holiday Check-in
Ho, Ho, Wholesale: Costco, Sam’s Club, and BJ’s
October 2022’s Retail Rebound
Target and Walmart Ahead of the Holidays
Home Improvement: Leave it to the Pros
Despite Inflation, Holiday Season is Off to a Good Start
Placer.ai Office Index: October 2022 Recap
Placer.ai Mall Indexes- October 2022 Update
Americans Double Down on Fitness
The State of Grocery
CVS and Walgreens: The Wave Continues
Coffee Chains Brewing Up Visits
Placer.ai Spotlight: Pizza Players
What Drove COVID-Era Urban Migration Trends?
Kroger and Albertsons: A Merging of Strengths
Texas Roadhouse Innovations Dishing Up Success
Holidays on the Horizon: Mid-Range and Luxury Shopping
McDonald's and Chipotle's Post-Pandemic Success
Announcing Placer.ai’s Q3 2022 Quarterly Index
5 Hot Restaurant Brands for 2023
Target Finds a Winning Deals Day Formula
Five Trends to Watch for 2022’s Holiday Shopping Season
September 2022 Analysis: A Difficult Month and Time for Optimism
Inflation’s Retail Winners
Five Apparel Retailers to Watch Ahead of the Holidays
Placer.ai Spotlight: Wawa’s QSR Pivot
Placer.ai Mall Indexes: September 2022 Recap
Placer.ai Office Indexes: September 2022 Recap
The Impact of Population Growth on Commercial Real Estate 
Starbucks' New Makeover
There's Somethin' About Pumpkin
Expanding Offline Reach
Breakfast Restaurants are Rising in Popularity
The Power of Labor Day 2022
Tourism in Miami Heating Up
Citi Trends on the Rise
Reaching Rural Consumers Through Retail Media Network
Darden Restaurants Cooking Up Success
The Home Improvement Sector: A Sign of Consumer Confidence
QSR Is Having a Northeastern Growth Spurt
Domestic Migration’s Ripple Effects
A Look Back at Back To School 2022
Kroger Digital Tell-All
The Return of In-Person Networking
The Reinvention of the American Mall  
Placer.ai Office Building Indexes: August 2022 Recap 
Placer.ai Mall Indexes - August 2022 Recap
Five Below’s Back to School Success
Plus-Size Fashion’s Staying Power
Placer Bytes: Best Buy & GameStop 
Petco Barking Up the Right Tree