Dollar Tree is officially raising their prices, everything will be $1.25

Joe Mertens
Retail store "Dollar Tree"

The company has recently announced that it will be raising its prices from $1 to $1.25 on the majority of its products by early 2022. In a quarterly earnings release, the company announced that its decision to raise the prices was "not a reaction to short-term or transitory market conditions."

Dollar Tree was one of America's last true dollar stores, selling products for just one dollar for 35 years. In fact, the company was called "Only $1.00" before changing its name to Dollar Tree in 1993. CEO Michael Witynski released a statement saying, "This is the appropriate time to shift away from the constraints of the $1 price point." Selling stuff for $1 hampered Dollar Tree, the company said, and because of that, they were forced to stop selling some "customer favorites."

The idea behind raising their prices up a quarter is to give the company more flexibility to bring back items and expand its selection. The company also stated it would be adding $3 and $5 items to select locations. Right now, Dollar Tree primarily carries seasonal goods, home decor, kitchenware, toys, party items, snacks, and stationary items, but it will be interesting to see what items they intend on bringing back after they raise their prices.

So, what do you think of Dollar Tree's decision to raise their prices? Comment below and let me know!

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