Dollar Tree will raise their prices next year

Nov 25 2021, 3:39 pm

Dollar Tree is raising its prices to US$1.25.

The retailer, which sells everything from kitchenware to holiday decorations for just $1, plans to complete the rollout to all of their stores by the end of 2022.

The price point — which will apply to a majority of their products — will be used to help the store expand its offerings and introduce new products and sizes, according to a statement released by the company on Tuesday.

“Lifting the one-dollar constraint represents a monumental step for our organization and we are enthusiastic about the opportunity to meaningfully improve our shoppers’ experience and unlock value for our stakeholders,” stated Michael Witynski, President and Chief Executive Officer. “Guided by Dollar Tree’s same founding principles, we will be relentless in our commitment to offer our customers the best value possible.”

While this may deviate from its “everything-for-one-dollar” motto, the company hopes the change will help balance increasing freight and distribution costs and higher operating costs like wage increases.

Plans for the price increase were announced in September.

Isabelle DoctoIsabelle Docto

+ Venture
+ Shopping
+ Curated