Dollar Tree Is Raising Some Prices Above $1

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Prices at Dollar Tree are getting ready to climb. Some items will soon cost more than $1!

Money expert Clark Howard is a big fan of Dollar Tree because the brand has become synonymous with $1 pricing.

Big Changes Are Coming to Dollar Tree

“I have always loved Dollar Tree because you don’t have to worry about the price of anything,” Clark says. “Because inflation is such a problem right now, Dollar Tree is experimenting with sections of the store that are above $1.” 

In a recent news release, the company said, “Based on positive customer reaction and the success of its new Combo and Dollar Tree Plus store formats, the Company plans to begin adding new price points above $1 across all Dollar Tree Plus stores and will begin testing additional price points above $1 in selected legacy Dollar Tree stores.”

The company is in the midst of expanding its Dollar Tree Plus format stores, which have items priced at $1, $3 and $5. Dollar Tree plans to open at least 5,000 Plus locations by the end of fiscal 2024, according to the release.

The company says it also plans to add 400 Combo Stores in fiscal year 2022, with as many as 3,000 in the years ahead.

Dollar Tree says that the price hikes are a response to customer feedback for a wider range of products on shelves.

“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,” Dollar Tree President/CEO Michael Witynski says in the news release.

Shoppers have enjoyed the three dollar-branded stores — Dollar Tree, Dollar Family and Dollar General — for decades. But increasingly, the “dollar” moniker has been more about branding than product price. Dollar General says only about a quarter of its merchandise still sells for a dollar or less.

And Dollar Tree actually bought Family Dollar several years ago.

Shopping at Dollar Tree Soon? Here’s Clark’s Advice

Clark wants you to try to save money on almost everything you buy. He says it’s a good idea to start double-checking the prices on Dollar Tree items.

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“The next time you go to Dollar Tree, make sure you’re clear about the price before you hit the checkout line,” Clark says. “You and I have to be more careful when we’re out and about shopping.”

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