More Than One Dollar: Dollar Tree Increases Prices For The First Time In 35 Years

For 35 years, the Dollar Tree discount chain has sold almost everything for $ 1. But the time has come to change that: the cost of most goods will rise to $ 1,25. Writes about it NPR.

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Each year, the dollar's value declines due to inflation, making it difficult to keep prices set. Inflation hit its highest level since 1990 last month.

Dollar Tree's competitors deviate from the strict $ 1 or even $ 5 pricing as in the case of Five below. Now Dollar Tree has given up too - the chain plans to raise prices in all stores by early 2022.

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The company has been testing more expensive products for months now, adding Dollar Tree Plus stores with $ 3 and $ 5 items. In September, she said shoppers had “reacted positively” to the price changes and announced plans to set $ 1,25 and $ 1,50 in select traditional Dollar Tree stores. The innovation has produced "exceptionally positive" results.

To meet the $ 1 limit, the discount chain had to stop selling some of the products it hopes to return to their shelves.

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The Dollar Tree report said that the increase in prices of more than $ 1 "was not a reaction to short-term or transitional market conditions." But Dollar Tree CEO Michael Witinski said "the additional price has given companies the ability to run businesses as a whole, especially in an unstable inflationary environment."

Dollar Tree is one of the fastest growing networks in the United States, adding hundreds of locations during the COVID-19 pandemic.

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