Dave Gold, American businessman, founded 99 Cents Only Stores (b. 1932)

Dave Gold (June 5, 1932 – April 22, 2013) was a visionary American businessman whose entrepreneurial spirit fundamentally shaped a segment of the retail industry. He is best remembered as the ingenious founder of the 99 Cents Only chain of discount stores, a concept that redefined value shopping for millions of consumers.

Born in Cleveland, Ohio, Gold's journey to retail innovation began not in grand corporate boardrooms, but rather from a more grounded observation. He was reportedly running a liquor store in Los Angeles when he noticed a fascinating trend: items priced at 99 cents consistently outsold those at a full dollar. This keen insight sparked a brilliant idea: what if an entire store could operate on this single, psychologically potent price point?

In 1982, Gold brought this revolutionary idea to life, opening the very first 99 Cents Only store in Los Angeles. The concept was disarmingly simple yet incredibly effective: every single item in the store was priced at 99 cents. This clear, unambiguous pricing strategy resonated powerfully with shoppers seeking transparent value and budget-friendly options. The stores quickly became known for offering a surprisingly diverse range of products, from everyday groceries and household essentials to seasonal decorations and unexpected treasures, all at an unbeatable fixed price.

Under Gold's leadership, the 99 Cents Only chain experienced rapid growth, expanding across California and into other Southwestern states. It became a beloved fixture in many communities, transforming the perception of discount retail and proving that quality and affordability could coexist. Dave Gold's legacy is etched not just in the success of his company, but in the enduring appeal of the single-price-point store model, which continues to influence the retail landscape even after his passing in 2013 and the eventual challenges faced by the chain he founded.

Frequently Asked Questions About Dave Gold and 99 Cents Only Stores

Who was Dave Gold?

Dave Gold (June 5, 1932 – April 22, 2013) was an American businessman and entrepreneur. He is best known as the founder of the popular 99 Cents Only chain of discount stores, which offered all its merchandise at a single price point.

When did Dave Gold establish the 99 Cents Only chain?

Dave Gold opened the first 99 Cents Only store in 1982 in Los Angeles, California, after noticing the commercial appeal of items priced at 99 cents.

What made the 99 Cents Only store concept unique?

The core uniqueness of the 99 Cents Only stores was its strict adherence to a single, fixed price point for all items: 99 cents. This transparent pricing strategy simplified shopping, created a clear value proposition, and appealed to budget-conscious consumers.

What was Dave Gold's inspiration for the 99 Cents Only concept?

Gold's inspiration reportedly came from his experience running a liquor store, where he observed that products priced at 99 cents consistently sold better than those at a full dollar. He then expanded this observation into a full-fledged retail model.

Are 99 Cents Only stores still in operation today?

While Dave Gold's vision profoundly impacted discount retail, the 99 Cents Only chain eventually faced significant financial challenges after his passing. In April 2024, the company announced its decision to close all its 371 stores and liquidate its assets, marking the end of an era for the iconic discount retailer.