Some of our most popular articles published over the last few months have discussed Dollarama’s new major competitor Miniso and their ambitious expansion plans. Essentially Miniso put Dollarama on notice, and if this was a rap beef, Miniso would play the young cool rapper looking to overthrow the established rapper who’s had massive recent success.
But alas, this is retail and not a rap beef and the competition between Miniso and Dollarama isn’t so black and white. Industry insiders do point out that Dollarama shouldn’t be concerned with Miniso for several reasons. Firstly, Miniso and Dollarama have a completely different customer base. While they do sell overlapping products like electronics and accessories, Miniso and Dollarama appeal to very different types of consumers.
Miniso is going for the lifestyle shopper and tries to refresh products every seven days to keep the “novelty” shopping experience. While Dollarama appeals to the everyday shopper looking to save money.
While industry insiders think Miniso might shake up the Canadian retail landscape, they also believe that Dollarama will be fine as their offering is broader and attracts customers from every retail demographic.
A perfect analogy of how they compare is Miniso = Uniqlo and Dollarama = Walmart. While both stores may attract the same shopper, the shopper goes to a Uniqlo or Walmart for very different reasons.
All in all – Dollarama isn’t worried about Miniso and even though Minsio is aggressively going after Dollarama. Shots have been fired. Dollarama shouldn’t care.
Do you think Dollarama is in trouble?
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