make a sales presentations of Dollarama to open a store in the plaza across the street.
This report’s aim is to provide a possible opening of a Dollarama store at a corner area of the FreshCo plaza across from the college. The report considers the data that is currently available about the demographics, customer behavior, and local competitiveness. On whether or not Dollarama should open a store in this location, the report will make suggestions.
There have been thought to be many people living in the area, with college students there and a large population. College students tend to be more budget sensitive than other buyers, so they are more likely to be attracted to discount stores,cheap prices, making it a suitable demographic for Dollarama. Moreover, the area’s average household income is good.
The presence of the FreshCo plaza has made this area a well-known shopping location. The plaza’s position indicates that the area has a good selection of retail stores, which could be beneficial for Dollarama because customers may be more likely to stop by the store if they are already around for other shopping. Bus stops can be found all over the place, so public transportation is very well-connected to the area. This could be helpful for Dollarama as it could give customers a quick and cheap way to reach the store.
There are presently no budget friendly stores in the area, a Dollarama store could be a good option. Dollarama has a comparative benefit in the area because of the lack of competition from other shops, as customers may be more likely to visit the store in that case.
While opening a store in the area, Dollarama is suggested to take the following steps;
Provide discounts and promotions for students
cooperating with local businesses to provide customers with discounts and services
It is proposed that Dollarama open a store in the area according to the findings. Because of the lack of competition from other discount stores, the convenience of parking, and public transportation, the store is likely to be successful in this area. Dollarama is likely to be profitable in this area by using the local demographics, customer behavior, and competition.
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