MINISO Is Now Opening '$2 Plus' Discount Stores In Canada & Step Aside, Dollarama
The first stores are already open!
Lifestyle retailer MINISO has debuted a new concept for its low-cost stores in Canada, and the brand appears to be creating competition for dollar stores.
On October 1, MINISO unveiled a new "$2 plus" concept at some of its locations in Ontario and B.C.
The concept sees MINISO products now priced between $2 and $10, and comes in response to rising inflation costs in the country, according to the brand.
MINISO's location in Vaughan Mills, Ontario, was one of the first stores to reopen with the new concept after being closed for several months for refurbishment. The store reopened over the weekend with a new look and the newly-discounted supplies.
The locations at Scarborough Town Centre and CF Markville in Markham, as well as the Vancouver location at 550 Granville Street, also opened on the same day with the new concept.
In a press release, MINISO said the new concept takes inspiration from dollar stores but will offer "more diverse and higher quality goods than traditional low-cost retailers."
It comes as dollar stores like Dollarama have increased their prices, with the retailer saying earlier this year that it would gradually roll out products costing up to $5 across Canada in 2022.
Fifty MINISO Canada locations have been opened since May 2017, and the rest of the brand's Canadian stores are set to undergo the same revamp as the Ontario and Granville locations.
The brand is known for its large selection of plushies and also sells lifestyle items like home goods, stationery, snacks, beverages, beauty and wellness products, fashion and electronics.
Is MINISO Japanese or Chinese?
MINISO is a Chinese retailer with headquarters in Guangzhou, China, although the brand formerly described itself as "a Japanese-inspired lifestyle product retailer."
In August, MINISO issued an apology on social media for promoting itself as a Japanese-style brand and said it had been removing Japanese elements from its stores since 2019, according to Reuters.
The brand is able to keep prices low thanks to its "long-standing Chinese supply chain capabilities," and has licensed collections with companies like Marvel, Disney, Coca-Cola, We Bare Bears, Minions and more.
This article's cover image was used for illustrative purposes only.