Since opening its first location in October 2002 at the Gateway Shopping Center in Wayne, Five Below has grown into one of the nation’s most successful retailers, writes Taylor Telford for The Washington Post.

Five Below stands out from most retailers by focusing on cheap, fun, nonessential items in a consumer landscape dominated by necessities.

“If you spend time in a dollar store or mass merchant like Target or Walmart, it’s not really about letting go because you’re there to meet your needs,” said David Makuen, executive vice president of marketing and strategy. “Our purpose is really simple: We want customers to be able to let go and have fun.”

The strategy worked with 125 new locations opening in 2018 alone. In 2017, Five Below reported revenue of more than $1 billion and easily surpassed that in 2018.

Now, the goal is to have 2,500 locations across the country and to go international. The company is also considering moving to a slightly higher price point, which is already being tested at six stores in cities on the East Coast.

Read more about Five Below in The Washington Post here.

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