Dollarama to add bulk buyouts of low-cost goods to the e-commerce rush
Category: #retail  By Dhananjay Punekar  Date: 2018-03-30
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Dollarama to add bulk buyouts of low-cost goods to the e-commerce rush

Dollarama Inc., a Canada based retail chain firm, is likely to add bulk purchases of its low-priced products to the eCommerce queue in a bid to promote the expansion of its bricks-and-mortar stores. Neil Rossy, the CEO of Dollarama Inc., has stated that with the Canadian grocers such as Metro Inc., trying to ramp up their online sales to compete against Amazon, it is rather overt that the online retail business possesses a huge growth potential.

Rossy further stated that Dollarama will introduce its eCommerce platform by the end of this year and will test the same in a Canadian province to receive feedback before it goes live across the country.

The firm is planning to use its own eCommerce platform for selling products that it puts on the shelf of its 1,160 stores. The key officials of the firm claimed that 65 of its new stores launched in 2018 had helped its fourth quarter revenue scale up to USD 162.8 million, as compared to the revenue of USD 146.1 million that it accrued a year before. During the period, the sales of the firm had increased by nearly 10% and it earned a revenue of USD 938.10 million.

The strategic move of the firm is aimed at not only expanding its retail business, but to grow its bricks-and-mortar discount store business, which is facing a tough competition from Chinese retailer Miniso. Incidentally, Miniso launched a few retail stores in Canada last year.

Amidst a fierce competitive scenario in the Canada retail sector, firms such as Dollarama have to take proactive measures and initiatives to sustain their position in this business space, claim experts. Last year apparently, the firm had introduced new technologies in its stores to boost the overall operational efficiency.

As per authentic sources, Dollarama’s fourth quarter earnings increased by 17%.



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Dhananjay Punekar

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Dhananjay Punekar

Dhananjay Punekar presently develops content for a slew of portals, including Market Size Forecasters and Algosonline. A post graduate in mathematics and business administration, he worked in Infosys BPO Limited prior to switching his professional genre. As a content wr...

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