Finding bargains can be a time-consuming exercise, be it clipping coupons for groceries, checking flyers for sales, or simply shopping at discount retailers. Knowing where to find deals can save you a lot of time. One of my favourite discount stores is Dollarama.
Salim Rossy, who fled Lebanon in the early 1900s and moved to Montreal, opened his first store in 1910. S.Rossy Inc. General Stores, similar in nature to Woolworth's, grew to 44 stores by the late 1980s. During the 1960's and 1970's they faced major competition from Woolco and Kmart as well as Walmart, which first came to Canada in 1974. In response to these competitors Rossy made the brilliant decision to focus on one price point--$1.00--and to call his new chain Dollarama. The first Dollarama, located in Matane in the Gaspe region, was an instant hit. Since then Dollarama stores have expanded across Canada. There are now 667 stores in Canada (Retail Chains in Canada,) and new stores are being added weekly. Current president Larry Rossy was ahead of his time by sourcing merchandise without the middleman and travelling directly to China and other Asian countries to buy stock. This allowed him to keep his costs low and pass on the savings to the consumer. To read more about this Canadian success story checkout this recent article in the "Globe and Mail".
Or to read about other discount retailers, check out these titles:
To find out where else you can find great deals join Cathie Mostowyk of the Shoestring Shopping Guide on June 14th from 2:00-3:30 pm at the North York Central Library. Free. Call 416-395-5613 to register.