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Dollar Tree to raise prices above $1 amid supply chain shortages and rising inflation, store announces

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Dollar Tree announced on Tuesday that it was raising prices above $1 in some of its stores. In its statement, it didn’t specify what product prices would change, or at which stores.

“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,” CEO Michael Witynski said. It also intends to bring  its higher-priced Dollar Tree Plus items, which mostly cost between $3 and $5, to more locations, it said.

“Dollar Tree Plus, which is currently in 340 stores, will be added to 500 locations by the end of this year, and a further 1,500 by the end of fiscal 2022”, the company said. The chain is the biggest retailer that is focused on $1 deals.

“For decades, our customers have enjoyed the ‘thrill-of-the-hunt’ for value at one dollar – and we remain committed to that core proposition – but many are telling us that they also want a broader product assortment when they come to shop,” Witynski said.

He continued: “We believe testing additional price points above $1 for Dollar Tree product will enable us over time to expand our assortments, introduce new products and meet more of our customers’ everyday needs.”

ARTICLE: PAUL MURDOCH

MANAGING EDITOR: CARSON CHOATE

PHOTO CREDITS: FOOD BUSINESS NEWS

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Paul Murdoch

Paul, 37, is from Scotland in the UK, but currently lives and works in Bangkok. Paul has worked in different industries such as telemarketing, retail, hospitality, farming, insurance, and teaching, where he works now. He teaches at an all-girls High School in Bangkok. “It’s a lot of work, but I love my job.” Paul has an active interest in politics. His reason for writing for FBA is to offer people the facts and allow them to make up their own minds. Whilst he believes opinion columns have their place, it is also important that people can have accurate news with no bias.

Paul, 37, is from Scotland in the UK, but currently lives and works in Bangkok. Paul has worked in different industries such as telemarketing, retail, hospitality, farming, insurance, and teaching, where he works now. He teaches at an all-girls High School in Bangkok. “It’s a lot of work, but I love my job.” Paul has an active interest in politics. His reason for writing for FBA is to offer people the facts and allow them to make up their own minds. Whilst he believes opinion columns have their place, it is also important that people can have accurate news with no bias.

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