Thanks to inflation, Dollar Tree announced Tuesday that prices would be changing from one dollar to $1.25. The chain has begun rolling out the new price point in stores nationwide.
“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,” President and Chief Executive Officer Michael Witynski said in a statement.
It’s expected that the chain’s loyal customers won’t be bothered by the slight price increase. In fact, it is believed that shoppers understand the current supply chain issues and inflation faced by retailers.
The statement notes that the change is permanent and is expected “to materially expand its offerings, introduce new products and sizes, and provide families with more of their daily essentials.”
Customers can expect that Dollar Tree probably won’t change its name anytime soon despite the price increase.
