Going Dollar Tree shopping? Before you visit your local Dollar Tree store or go to dollartree.com, here’s everything you need to know about new Dollar Tree prices and products.
With the success of Dollar Tree Plus and Combo store formats, Dollar Tree CEO, Michael Witynski officially announced on September 28, 2021, in a press release, that they will begin adding new Dollar Tree prices to provide a broader assortment of products to their customers.
Many were disappointed by the news but there are also reasons why this could be a good thing.
Are Dollar Tree Prices Going Up?
After decades of keeping their promise of providing everything for $1, Dollar Tree will now offer multi-price point products to accommodate more of the everyday needs of their consumers.
“We believe testing additional price points above $1 for Dollar Tree products will enable us over time to expand our assortments, introduce new products, and meet more of our customers’ everyday needs,” Dollar Tree CEO, Michael Witynski said.
With this, you can expect to see products priced more than $1 on selected legacy Dollar Tree stores and across all Dollar Tree Plus stores. By the end of 2021, 500 Dollar Tree Plus stores are expected to open and offer a variety of products priced at $1, $1.25, $1.50, $3, and $5.
Is Dollar Tree Raising Prices?
Through the years, Dollar Tree stood by its “Everything’s $1” policy despite the inflation and supply chain disruptions. But because of the pandemic, like any other business today, Dollar Tree also experiences an increase in freight and labor costs. This left Dollar Tree without a choice but to cope and increase prices.
However, Dollar Tree also made sure that this solution will also be advantageous to their loyal customers. According to Neil Saunders, managing director of GlobalData Retail, “Dollar Tree’s move to a multiple price point model is a big change. But it is also a necessary one,”.
Dollar Tree’s price increase will allow the company to expand and be more flexible in terms of providing better and higher-quality products that are still affordable for the consumers. There will be more brands and assortments of products to choose from too. Although some of it will be priced at more than $1, they are still more likely less expensive than what you can find in other retailers.
Is anything in Dollar Tree more than a dollar?
There have been Dollar Tree Plus sections in several Dollar Tree stores since 2019. Since then, Dollar Tree has been selling products priced above $1 including home decor, apparel, crafts, sports, seasonal items, and even frozen meats.
After receiving a positive reaction from the customers, Dollar Tree is now looking forward to opening more Dollar Tree Plus sections in its thousands of stores. The company aims to open 500 Dollar Tree Plus stores by the end of fiscal 2021, 1,500 stores in fiscal 2022, and another 5000 Dollar Tree Plus stores by the end of fiscal 2024.
The company also received success with its Combo Stores — a combination of Dollar Tree and Family Dollar brands. As of today, there’s a total of 105 Combo stores but the company is expecting to add 400 more in fiscal 2022, and 3000 more stores for the next several years.
Regardless of the price increase, Witynski promised that Dollar Tree will remain true to its mission of being a value-driven store for the customers. “Our brand promise is that customers get great value for what they spend at Dollar Tree. We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.25, $1.50,” the CEO said.
Does Dollar Tree Have a $5 Section?
Yes. As mentioned earlier, Dollar Tree is currently working to have a total of 500 Dollar Tree Plus stores that offer products priced at $1, $3, and $5 by the end of the year.
The company still has not yet released the official list of products that will have increased in price or new products that will be available on all Dollar Tree Plus stores. But based on the current operating Dollar Tree Plus stores, you can look forward to more frozen goods, seasonal items, and home decor.
What’s Your Opinion About the Dollar Tree Price Increase 2021?
What do you think of the Dollar Tree price increase? According to Dollar Tree CEO, Dollar Tree is a test and learn company so they are also looking forward to how their customers will react to this change.
“We are a ‘test-and-learn organization,’ which is what we are doing with this new initiative. We listen to our customers and believe it will make shopping with us an even better experience,” Witynski concluded.
Do you agree? Let us know in the comment section below! We would love to hear from you!
If you love shopping at Dollar Tree and you want to make the most out of your shopping experience, make it a point to plan ahead of time. Here are some of our Dollar Tree shopping guide that you might want to check out:
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