After 35 years of selling everything for $1, Dollar Tree is making a big change to the way it does business.
The extreme value discounter said it is rolling out a $1.25 price point to all Dollar Tree stores nationwide. The move, which comes as inflation and supply chain disruptions are pushing up the cost of many goods, was not unexpected. In September, the retailer said it planned to add additional price points above $1 to all Dollar Tree Plus stores and – on a test basis – to select legacy Dollar Tree stores start testing.
“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,” said Michael Witynski, President and CEO.
The company plans to introduce the new price point, which will apply to the majority of its assortment, in more than 2,000 additional Dollar Tree stores in December. The rollout to all stores will be completed by the end of its first fiscal quarter of 2022.