1709381383 Falling prices at BMR due to the sudden drop in

BMR’s Price Reduction: Impact of Container Price Plummet

A toilet costs from $120 to $97 (-19% in two years) or even a laminate floor costs from $1.27 per square foot to 99 cents (-22% in one year). BMR has managed to reduce prices in many stores despite inflation due to the crash in container prices.

“During the pandemic, there was an abuse of maritime transport companies,” explains Alexandre Lefebvre, CEO of BMR for three years, in an interview with the Journal.

This had a direct impact on the prices of items on store shelves. For example, the prices for containers with products from China melted like snow in the sun.

“It was stratospheric. However, container prices have fallen significantly,” he adds. BMR speaks of a container whose price has increased from $33,000 to $4,000. Not to mention the prices for forest products have also fallen, notes Alexandre Lefebvre.

Falling prices at BMR due to the sudden drop in container prices

A toilet for $97.49. Provided by BMR

Falling prices at BMR due to the sudden drop in container prices

A minimum price of $0.99. Provided by BMR

Fourth in the world

As a result, BMR has been able to reduce its prices in recent months despite a sharp drop in housing starts and a decline in renovation demand, with container prices for goods imported from the other side of the world falling.

The Quebec hardware retailer also signed a key partnership with the ARENA Alliance, giving it access to better volume pricing. This buying group enables him to achieve good prices and thus remain attractive to the American giants that are struggling for help.

Falling prices at BMR due to the sudden drop in container prices

A BMR truck loaded with construction materials. Provided by BMR

“After Home Depot, Lowe's and Leroy Merlin in France, we have become the fourth largest provider of purchasing power for hardware in the world,” explains the boss of BMR proudly.

Falling prices at BMR due to the sudden drop in container prices

In 2023, Soumission Rénovation recorded a 27% decrease in average project value compared to 2022. Provided by Soumission Rénovation

Ontario Dream

In addition to efforts to reduce store prices, BMR continued its expansion in Ontario.

Today, there are about 23 locations in Doug Ford's province, mostly independent stores and some distribution centers.

Last Thursday, BMR said its net surplus fell from $41 million in 2022 to $34.5 million last year, due to a decline in housing starts, the explosion in household debt and interest rates be.

“In Quebec in particular, we saw a significant decline in housing starts. We're talking about thirty [de points de] of percentages. It's enormous. These are catastrophic numbers. It hurts,” analyzed Alexandre Lefebvre.

Can you share information about this story?

Write to us or call us directly at 1 800-63SCOOP.