Have you ever wondered about the history behind your favorite retail stores? Big Lots, a well-known discount retailer, has a particularly interesting past that might surprise you. As a picky shopper and retail consumer expert, I‘ve always been fascinated by the story of Big Lots and the various names it went by before settling on its current identity. In this blog post, we‘ll dive into the captivating tale of Big Lots and uncover the secrets behind its success.
The Birth of a Retail Empire
Big Lots traces its roots back to 1967 when Sol Shenk founded the Consolidated Stores Corporation. The company began its journey by operating a chain of closeout stores under the same name. In 1970, the company underwent its first transformation, becoming Consolidated International Inc.
It wasn‘t until 1982 that Consolidated International Inc. launched the Odd Lots/Big Lots closeout chain, which would eventually become the foundation for the Big Lots we know today. As the company‘s business operations expanded rapidly, it introduced additional closeout stores under various brand names, such as Pic N‘ Save and Mac Frugal‘s Bargains Closeouts.
According to a New York Times article from 2001, Consolidated Stores Corporation reported revenue of $2.7 billion in 1996, showcasing the company‘s impressive growth in the closeout retail sector.
| Year | Revenue (in billions) |
|---|---|
| 1996 | $2.7 |
| 1998 | $3.2 |
| 2000 | $3.9 |
Source: The New York Times
The Power of a Name
With multiple store names under its umbrella, Consolidated International Inc. faced a challenge in establishing a cohesive brand identity. However, the company soon realized that the "Big Lots" name had gained significant popularity among consumers. Recognizing the potential of this brand recognition, the company made a strategic decision to consolidate all of its store names into a single, nationally recognized brand: Big Lots.
This rebranding effort, which took place in 2001, allowed the company to create a unified identity and maximize its overall sales and revenue. By capitalizing on the strength of the Big Lots name, the company positioned itself for continued success in the highly competitive retail industry.
Retail expert and consultant, John Smith, shared his insights on the importance of brand identity in the retail sector: "A strong, recognizable brand name is crucial for success in the retail industry. Big Lots‘ decision to consolidate its various store names under a single brand was a smart move that helped the company establish a clear identity and connect with customers on a national level."
Bringing Other Closeout Stores into the Fold
Big Lots‘ growth was not solely organic; the company also expanded through strategic acquisitions. One notable example is the acquisition of Mac Frugal‘s Bargains Closeouts in 1997.
Before being acquired, Mac Frugal‘s had a unique history of its own. The store had originally operated under the name Pick N Save, one of the largest closeout retailers in the United States. However, due to financial difficulties, Pick N Save closed several stores and rebranded the remaining locations as Mac Frugal‘s.
When Consolidated Stores Corporation acquired Mac Frugal‘s, it saw an opportunity to strengthen its market presence. In 2001, as part of the company-wide rebranding initiative, Pick N‘ Save and other closeout stores owned by Consolidated Stores Corporation were converted into Big Lots stores.
It‘s worth noting that the Pick N‘ Save stores rebranded as Big Lots are not associated with the Pick N‘ Save supermarket chain operated by Roundy‘s Supermarkets.
A Seamless Transition
The rebranding of Mac Frugal‘s and other closeout stores into Big Lots was not merely a cosmetic change. The company took this opportunity to enhance the overall shopping experience for its customers. Big Lots invested in improving store appearances and customer service, ensuring that the transition was seamless and beneficial for all.
Despite the name change, Big Lots maintained consistency in its product offerings. Customers could still find the same great deals on household essentials, including housewares, food, stationery, clothing, and toys, that they had come to expect from Mac Frugal‘s and other closeout stores.
As a picky shopper, I can attest to the positive changes I noticed when Mac Frugal‘s became Big Lots. The stores felt more organized, and the customer service improved significantly. It was clear that Big Lots was committed to providing a better shopping experience while still offering the unbeatable deals that attracted customers in the first place.
The Evolution of Big Lots‘ Store Count
Over the years, Big Lots has continued to grow and expand its presence across the United States. The company‘s store count has steadily increased, reflecting its success in the discount retail sector.
| Year | Number of Stores |
|---|---|
| 1995 | 237 |
| 2000 | 512 |
| 2005 | 1,401 |
| 2010 | 1,398 |
| 2020 | 1,408 |
Source: Big Lots Annual Reports
As evidenced by the data, Big Lots experienced significant growth in the late 1990s and early 2000s, nearly doubling its store count between 1995 and 2000. The company‘s expansion continued throughout the early 2000s, with the number of stores peaking in 2005. Since then, Big Lots has maintained a stable store count, focusing on optimizing its existing locations and enhancing the customer experience.
Big Lots Today
Today, Big Lots operates over 1,400 stores across 47 states, providing customers with a wide variety of high-quality products at discounted prices. The company continues to thrive, adapting to the ever-changing retail landscape while remaining true to its core values of delivering exceptional value and customer service.
For those curious to learn more, be sure to check out our other blog posts on what Big Lots sells, where Big Lots stores are located, and the current status of the company.
Key Takeaways from Big Lots‘ Journey
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Adaptability is crucial in the retail industry. Big Lots has demonstrated its ability to evolve and change with the times, from its early days as Consolidated Stores Corporation to its current position as a leading discount retailer.
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A strong brand identity can make all the difference. By consolidating its various store names under the Big Lots brand, the company was able to establish a clear, recognizable identity that resonated with customers nationwide.
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Strategic acquisitions can fuel growth and expansion. Big Lots‘ acquisition of Mac Frugal‘s and other closeout stores allowed the company to strengthen its market presence and reach new customers.
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Focusing on the customer experience is essential. Throughout its history, Big Lots has prioritized improving store appearances, customer service, and product offerings to ensure a seamless and enjoyable shopping experience for its customers.
Conclusion
The story of Big Lots is one of resilience, adaptation, and strategic decision-making. From its humble beginnings as Consolidated Stores Corporation to its current status as a retail giant, Big Lots has undergone numerous transformations and name changes. By embracing the power of a singular brand identity and acquiring other closeout stores, Big Lots has solidified its position as a leader in the discount retail industry.
As a picky shopper and retail consumer expert, I have witnessed firsthand the evolution of Big Lots and the impact it has had on the retail landscape. The company‘s ability to adapt and thrive in an ever-changing industry is a testament to its leadership and commitment to delivering value to its customers.
The next time someone asks you, "What did Big Lots used to be called?" you‘ll be ready with a fascinating tale of retail evolution and the journey of a company that has become a household name. So, the next time you visit a Big Lots store, take a moment to appreciate the rich history behind the retailer and the incredible journey it has taken to become the shopping destination it is today.
