Dollar Tree Raising Prices 25% – Everything Will Now Cost $1.25
Recently, the company announced that it plans to raise prices from $1 to $1.25 on the majority of its products by early 2022. This shift reflects the impossibility of discount retailers keeping prices down while inflation rates continue to rise.
The price hike is also expected to help the company deal with historically high merchandise cost increases and pay raises for its employees. CEO Michael Witynski said,
“For 35 years, Dollar Tree has managed through inflationary periods to maintain the everything-for-one-dollar philosophy that distinguished Dollar Tree and made it one of the most successful retail concepts for three decades…. This is the appropriate time to shift away from the constraints of the $1.00 price point in order to continue offering extreme value to customers. This decision is permanent.”