Dollarama drama: low-cost retailer to start selling some items for up to $5

Mar 30 2022, 5:50 pm

Your fave bargain retail store is about to get a little pricier.

Dollarama plans to start selling items for up to $5 in 2023. The Canadian retail chain, which sells everything from kitchenware to beauty supplies, released its fourth quarter fiscal results on Wednesday, revealing how inflation has impacted its sales.

“This will enable the Corporation to maintain and enhance its broad product assortment and compelling value,” the company said of the price hike.

Turns out, the low-cost store was not immune to the effects of Omicron and the provincial restrictions that came with it as it dampened sales in the weeks leading up to the holidays.

Despite this, the company fared well overall with an 11% increase in sales to $1.2 million compared to $1.1 million in 2021.

As of now, the most expensive items at Dollarama are $4, with a majority of its products costing less.

Unsurprisingly, people have a lot to say about this spike in prices.

Many are suggesting the company change its name.

“Maybe a new name? ‘Dollars-ama?’ ‘Used To Be Dollarama'” said one Twitter user.

For others, this is a significant sign of inflation.

Dollarama isn’t the only low-cost store that’s raised its prices. This year, Dollar Tree raised its prices to US$1.25.

Hopefully, true-to-advertising dollar stores won’t be obsolete in the future!

Isabelle DoctoIsabelle Docto

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