American Wealth Weekly (AWW) has just announced that a chain of stores based on the Dollar Store model will be opening for the uber rich sometime early next year. For decades, discount stores such as The Dollar Tree and Dollar General have offered its customers cheap knock off products for a dollar or more per item, making them very popular with lower and middle-class shoppers, especially in slower economic times.
It is these slower economic times that are causing other companies to look for ways to serve the uber rich. The mantra of the wealthiest citizens of the United States has always been “If you have to ask how much it costs, you can’t afford it.” However, with tax increases on the horizon, the rich are expecting a break in prices as well, and that is where these new millionaire discount stores hope to fill a marketing niche.
The $100 Dollar Stores, as the chain will be called, will carry knock offs just like their lower income counterparts. The difference is in the quality of the knock offs. We’re talking Versace-like dresses for $100, Rolex-like watches for $100, even jars of Beluga-like caviar for $100. From discount designer evening gowns to high-priced gourmet foods, millionaires will now have a place to buy deeply discounted luxury items.
“Our stores will offer the finer things in life but they won’t cost nearly as much as they would at famous name retailers,” said David Smythe, co-founder of $100 Dollar Stores.
We asked Smythe how he can possibly offer such fine products at the ridiculously low price of $100 each. He told us he does the same thing as say Big Lots or Family Dollar stores.
“We buy in bulk and we buy flawed seconds,” he said. “For instance, we may ask Tiffany’s to sell us all the pearl jewelry they have in stock that may contain flaws. No self-respecting millionairess would pay $10,000 for a flawed necklace, but if you offer it to her for $100, she’ll snatch it up quicker than you can say exquisite,” he laughed.
Asked if the millionaires he’s targeting won’t feel a bit embarrassed walking into his store, Smythe laughed. “Oh hell no,” he said. “I anticipate my stores will be very popular with men who want to impress their wives and mistresses with the finer things in life but are too cheap to buy them at their full retail price.”