The Dollar Tree is one of the biggest dollar stores in the United States that actually sticks to its title of selling products for just $1.00. That’d about to change.
Prices will now be $1.25 per item instead of $1.00 starting in 2022 in an attempt to battle inflation.
The company shared that by selling things for only $1.00, it negatively impacted their ability to provide customers with their favorite items.
By raising prices .25 cents, the company can now bring back many of those items and expand on its inventory even more.
Raising the prices will also offset some of the most expensive things the company faces, like the cost of delivery and transportation. It will also help pay salaries.
According to Digis Mask, Dollar Tree focuses on selling to middle income suburban consumers, while Dollar General is a “rural rival.” Family Dollar is also owned by Dollar Tree and focuses on low income city consumers.
Related: What’s going on with inflation?
After 35 years of selling items for only one dollar, the company will no longer sell for that price.
The chain has been testing different prices in different stores as well. Some stores have sold items for $1.25 and $1.50, while others even tested out $3.00 and $5.00 items.
The company has stated that the decision to raise prices isn’t entirely a reaction to inflation.
Related: Dollar Tree to start selling items for more than $1
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