Dollar Tree’s Price Increase Is In Full Effect & Everything Now Costs $1.25
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Don’t be surprised by your next Dollar Tree receipt… 💵
With inflation soaring all around us, everything costs more these days, and even Dollar Tree has been affected by this trend. One of the country’s last true dollar stores, Dollar Tree has been one of the few places customers could depend on low prices – everything you saw cost just $1. But after 35 years, that’s all changing.
The company announced its plans to raise prices from $1 to $1.25 on the majority of its products by early 2022, and that day has finally come. 😩
Walk into your local Dollar Tree or shop online, and you’ll find that prices have been raised to $1.25. This shift reflects the impossibility of discount retailers keeping prices down while inflation rates continue to rise.
Dollar Tree explained in a quarterly earnings statement that selling everything for just a buck forced them to stop selling some customer favorites. Raising prices will hopefully give the retailer more flexibility to bring back those items, expand its selection, and introduce new products and sizes to its shelves.
The price hike is also expected to help the company deal with historically high merchandise cost increases and pay raises for its employees. CEO Michael Witynski said,
“For 35 years, Dollar Tree has managed through inflationary periods to maintain the everything-for-one-dollar philosophy that distinguished Dollar Tree and made it one of the most successful retail concepts for three decades…. This is the appropriate time to shift away from the constraints of the $1.00 price point in order to continue offering extreme value to customers. This decision is permanent.”