Big Lots is a well-known American retail company that operates a chain of discount stores, offering a wide range of products, including furniture, mattresses, home decor, and groceries. The company was founded in 1967 by Sol A. Shenk and has since grown to become one of the largest retailers in the United States, with over 1,400 stores across 47 states.
History of Big Lots
Big Lots has a long and interesting history that dates back to the 1960s. The company was originally founded as a discount store called Odd Lots, which focused on selling closeout merchandise and irregular products. Over the years, the company underwent several name changes, eventually becoming Big Lots in 2001. Today, Big Lots is a publicly traded company listed on the New York Stock Exchange (NYSE) under the ticker symbol BIG.
Business Model
Big Lots operates on a unique business model that focuses on offering a wide range of products at discounted prices. The company achieves this by sourcing products from a variety of suppliers, including manufacturers, wholesalers, and other retailers. Big Lots also operates a treasure hunt model, where customers can find unexpected deals and discounts on a variety of products. This model has proven to be successful, as it creates a sense of excitement and urgency among customers, encouraging them to visit stores frequently to find new deals.
| Category | Sales Percentage |
|---|---|
| Furniture | 35% |
| Home Decor | 25% |
| Food and Beverage | 20% |
| Health and Beauty | 10% |
| Other | 10% |
Products and Services
Big Lots offers a wide range of products, including furniture, mattresses, home decor, groceries, and health and beauty products. The company also provides a variety of services, such as furniture delivery and assembly, mattress recycling, and a rewards program called Big Lots Rewards. Big Lots has also partnered with several brands, including Serta, La-Z-Boy, and Samsung, to offer exclusive products and promotions.
Quality and Pricing
Big Lots is known for offering high-quality products at discounted prices. The company achieves this by sourcing products from a variety of suppliers and negotiating low prices. Big Lots also offers a price match guarantee, which ensures that customers can find the best prices on the products they want. The company’s pricing strategy is designed to be competitive, with prices often 20-50% lower than those found at traditional retailers.
- Furniture: Big Lots offers a wide range of furniture products, including sofas, loveseats, chairs, tables, and desks.
- Home Decor: The company offers a variety of home decor products, including rugs, curtains, pillows, and wall art.
- Food and Beverage: Big Lots sells a range of food and beverage products, including groceries, snacks, and beverages.
What is Big Lots’ return policy?
+Big Lots offers a 30-day return policy on most products, with some exceptions. Customers can return products to any Big Lots store or by mail.
Does Big Lots offer online shopping?
+Yes, Big Lots offers online shopping, with options for in-store pickup or delivery. Customers can shop online at biglots.com or through the Big Lots mobile app.
What is Big Lots Rewards?
+Big Lots Rewards is a loyalty program that offers customers exclusive discounts, rewards, and perks. Members can earn points on purchases and redeem them for rewards, such as discounts and free products.
