The name Binco may refer to JNCO (pronounced "Jenco"), a Los Angeles-based urban clothing company that first gained prominence in the early 90's.
In GTA: San Andreas, it becomes available after completion of the mission Nines and AKs. There are four locations in the state. The stores are primarily based on a Flea market. This could possibly explain the signs in the store which read "Everything 99¢", however nothing the player can buy is 99¢.
In GTA V, there are five Binco stores in Los Santos, and two of them are accessible to the player. They share the interiors and the clothing of the Discount Stores.
If you look at the floors inside, you would see straws and other litter everywhere, implying that the store is considered junk.
This is further supported by the name of the store, which possibly comes from Bin Co. Bin being the English word for a garbage can.
Inside the Binco stores in GTA V, one can find a table with sun tan, boonie hats, sandals, etc. This may have been foreshadowing the Beach Bum update, as the aforementioned items are present even if you haven't downloaded the update.
The price tag logo is very similar to the Best Buy logo.
The Overlooked Red Blouson is a reference to the film The Shining, where the main character, Jack Torrance (Jack Nicholson), is wearing a similiar one.
The Champagne Driver Blouson is a reference of the jacket worn by the unnamed driver (Ryan Gosling) from the movie Drive, but instead of a scorpion in the back, the jacket is sporting a crab.