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Dollarama SWOT & PESTLE Analysis

ID : 521225553| Jun 2022| 21 pages

COMPANY PROFILE -Dollarama

Business Sector :Retail

Operating Geography :Canada, North America, Global

About Dollarama :

Dollarama is a retail network of dollar stores based in Montreal, Canada. The company stores are corporate-owned rather than franchised. The business sells a wide variety of common consumer products, miscellaneous commodities, and seasonal things, all at low set prices. The majority of the company's product offerings are made up of general items and consumer products. The firm's outlets are spread around the country, mostly in handy locations including urban areas, midsize cities, and small towns. Larry Rossy, a third-generation shopkeeper and Canadian entrepreneur, launched Dollarama. It all began in 1992 with a single store in Matane, Quebec, and swiftly developed to become a household name and shopping destination for Canadians from coast to coast over the next two decades. In fiscal 2022, Dollarama entered into a long-term lease for its seventh warehouse (500,000 square foot) which is located in Laval, Quebec. Their aim is to increase its near-term warehousing capacity. It is currently under construction and will be operational by 2023.

Dollarama's USP or unique selling proposition is that it operates the largest chain of dollar stores in Canada, with over 1,300 outlets across all ten provinces. The mission statement of Dollarama reads, "To provide customers with compelling value. Our goal is to exceed customer expectations through the quality and variety of products we offer at select, low fixed price points".

Dollarama Revenue :


CA$ 4.330 billion - FY ending 30th January 2022 (y-o-y growth 7.5%)
CA$ 4.026 billion - FY ending 31st January 2021 (y-o-y growth 6.3%)
CA$ 3.787 billion - FY ending 31st January 2020

Competitive Analysis of Dollarama

SWOT
PESTLE
The SWOT analysis for Dollarama is presented below in a matrix followed by the detailed analysis report:
StrengthsWeaknesses
1. Competitive edge due to lower prices, scale and differentiated concept
2. Leading Canadian value retail brand
3. Issued unsecured notes with good credit rating
4. Low cost of operations due to cheap sourcing from foreign vendors
5. Well-balanced, Efficient, profitable and growing store network
1. Multiple COVID-19 outbreaks in Canada affecting business
2. Large number of store closures in Quebec
3. Heavy reliance on single-distribution center
OpportunitiesThreats
1. Expanding further into unpenetrated Canadian market
2. Increasing shareholder returns to attract more investors
3. Increasing digital presence through online store and app
4. Capturing markets in Peru through Dollarcity
1. Lower volume of business compared to similar US companies
2. Disruptions in supply chains due to pandemic
3. High competition from discount stores and mass merchants
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Dollarama

Strength

1. Competitive edge due to lower prices, scale and differentiated concept: Dollarama operates in the competitive retail industry, but it has taken several steps to differentiate its products and business model from its competitors to maintain a regular and loyal consumer base. Dollarama’s focus is on the value retail segment, which is the best established and fastest growing retail segment in Canadian markets. Rising consumer demand for value-oriented merchandise has led to the segment being classified as “essential”. Dollarama sets itself apart from its competitors by offering lower fixed price goods along with a wide range of branded and unbranded products. A broad assortment of essential and seasonal special items and a large store environment to display everything clearly, help customers choose from a wide range of offerings. Dollarama follows a multi-price point strategy wherein the company provides its customers a wide range of products at different but competitive prices. If the cost of obtaining a certain product increases, the selling price is adjusted only to reflect that price increase and not any more than is required.

The remaining section under "Strength" is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

1.  Expanding further into unpenetrated Canadian market: At the end of FY21, Dollarama’s management studied the Canadian retail market and decided that they could expand their footprint in Canada and increase store network to 2,000 stores by the end of 2031. The previous target of 1700 stores by 2027 was revised after evaluating Dollarama’s business potential. The Canadian dollar store industry is highly underpenetrated compared to the dollar store industry in the US. The top five US dollar store companies had over 10,000 customers in each of their stores per day in January 2021, indicating that there were a larger number of stores overall. The Top five Canadian dollar stores had over 20,000 customers per day in each of their stores in January 2021. This difference indicates that the Canadian market shows room for growth and Dollarama can profitably increase the number of stores in Canada.

The remaining section under "Opportunity" is available only in the 'Complete Report' on purchase.

Threat

This section is available only in the 'Complete Report' on purchase.

Major Competitors :

  • Giant Tiger
  • B&M Stores
  • Kmart
  • Ross Stores
  • Big W
  • Home Bargains

Major Brands :

  • D
  • Plastico
  • Dollar City
  • Dollarama GP Inc.
SWOT & PESTLE (combined)
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TABLE OF CONTENTS
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References used in Dollarama SWOT & PESTLE Analysis Report

1. Annual Report - https://www.dollarama.com/en-CA/corp/wp-content/uploads/2021/04/2021-Annual-Information-Form-vFINAL.pdf
2. Federal minimum wage of $15 per hour to come into effect on December 29, 2021 - https://www.canada.ca/en/employment-social-development/news/2021/06/nr---minimum-wage.html
3. Chinese Yuan just had its best quarter in 12 years, amid Covid and its economic fallout - https://theprint.in/economy/chinese-yuan-just-had-its-best-quarter-in-12-years-amid-covid-and-its-economic-fallout/515158/
4. Demand for Cleaning Chemicals Skyrockets as Cleaning Takes on New Significance - https://klinegroup.com/demand-for-cleaning-products-and-ingredients-skyrockets/
5. Canada’s climate plans and targets - https://www.canada.ca/en/services/environment/weather/climatechange/climate-plan/climate-plan-overview.html
The detailed complete set of references are available on request in the 'Complete report' on purchase.

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Dollarama SWOT & PESTLE Analysis - SWOT & PESTLE.COM

SWOT & PESTLE.com (2022). Dollarama SWOT & PESTLE Analysis - SWOT & PESTLE.com. [online] Available at: https://www.swotandpestle.com/dollarama/ [Accessed 25 Jun, 2022].

In-text: (SWOT & PESTLE.com, 2022)

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Dollarama SWOT and PESTLE analysis has been conducted by Anangsha Saha and reviewed by senior analysts from Barakaat Consulting.

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