Five Below is a value retailer that sells a multitude of products which are geared towards teenagers. All of the merchandise is bright, loud and in your face, something the younger generation seems to be attracted towards, the assortment of merchandise is also constantly changing. Five Below currently has two locations in Tampa Bay but plans to soon have nine locations statewide. The reason for such a big push is the companies faith in Florida’s economy, which they consider to be very strong at the moment.
Five Below is a publicly traded company and is expanding rapidly. Based in Pennsylvania, the company plans to open 70 stores this year. In due time, the company would like to operate around 75 stores in Florida alone. CEO Joel Anderson said “"Every kid has an allowance. It's amazing how far $10 or even $5 can go in Five Below". Following a sales model like Forever 21 or H&M, gearing merchandise to be trendy but at value prices, is what is making Five Below so successful. Five Below targets a lot of the teen demographic through social media, where it can show off popular products and also post about deals going on. David Makuen, SVP of marketing for Five Below backs this up, stating “Social media is so important to how we reach our customer”.