Discount retailer Dollarama Inc. is winning over new customers as Canadian shoppers “trade down” from more expensive stores and gravitate toward the dollar store’s cheaper prices amid inflation.
The retail chain said Friday it’s attracting consumers from “all walks of life”—including higher income households—as the climbing cost of living takes a toll on budgets.
“I do believe that there’s probably some trading down because of the inflationary environment and the pressures on everybody’s wallet,” Dollarama president and CEO Neil Rossy said during a call with analysts on Friday.
“It’s a great opportunity for us to keep some of those customers that might not otherwise have come into our store.”…