Dollarama’s Billion Dollar “Knock-Off” Secret
According to Canadian Business, Dollarama is now a $3 Billion company. Why has Dollarama been so successful? Well, many industry insiders point to the fact that Dollarama is now selling almost identical copies of popular products. Everything to Tylenol-esque medication for headaches to Mars-like candy bars. Products look eerily similar and Dollarama has been able to make them at a cheaper cost with a higher profit margin.
The Canadian Business article claims that critics are crying foul and that Dollarama is mostly getting away with mimicry.
We love Dollarama, and the article also points out that the retail chain claims they are not trying to deceive customers. Critics, however, state that customers are often in a hurry and if the packaging looks very similar they could pick up the product accidentally. Another poignant point comes up. Are you really getting such a great deal if the products you are buying are “copies”?
Check out this insightful video from Maclean’s that shows you how similar the house brand products at Dollarama are to their competitors.
What do you think? Should Dollarama make the look of their products less confusing?
Source: Canadian Business