All Canadian dollar stores will become 'three-dollar' stores in 2018
A major Canadian dollar store is changing their business strategy. Jim Tarbuck, the new head of Dollar Farm, sat down with This Is That's Peter Oldring to talk about the future of dollar stores in Canada.
"I'm here to deliver a harsh reality to Canadians," said Tarbuck. "We can no longer realistically advertise that you can get a quality product for a buck. We're changing to 'three-dollar' stores."
Tarbuck is arguing that inflation has made it impossible for dollar stores to actually sell products for a dollar. He sees the rebranding as a more honest approach to marketing.
"The bottom, baseline price for our products has to be three bucks. We barely sell anything for a dollar anymore," he said.
But as bargain retailers reconsider their bottom-line, should they also be reconsidering their names?
To find out the answer to this question, and to hear Dollar Farm's new advertising campaign, listen to the full story.