Dollar Tree will increase its baseline price for items to $1.25, citing inflation.
“Our Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide,” Witynskidetailing third-quarter company earnings. “Accordingly, we have begun rolling out the $1.25 price point at all Dollar Tree stores nationwide.”
While some items cost more than $1, Dollar Tree is widely known for holding nearly all its goods to the $1-per-unit price point, saidMost of the company's loyal customers understand the nation's struggles with inflation and supply chain slowdowns, and they are likely to stick with Dollar Tree despite having to shell out $1.25 for many items, Saunders said.
"I think if there are specific items that people are used to buying for a dollar, like soda or a candy bar, it could be a shock to have a higher price, but at the same time, I don’t know that people will riot," she said."Most people see it as a quarter, not as 25 percent inflation." The company claimed that with a higher price ceiling, it can offer more products it couldn't carry with a strict adherence to a $1 cap.
Dollar Tree now has the"ability to materially expand its offerings, introduce new products and sizes, and provide families with more of their daily essentials," the company said in a statement.“The ‘One Dollar and a Quarter Tree store' doesn’t have the same ring to it," Saunders said.
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