Dollar Tree announcedTuesday, they raised the price of some items by $1 to $1.25
The company has maintained $1 in goods value for 35 years. Now, it is raising prices by a quarter. The Hill reported.
In a statement, the company claimed that the idea was “very good.” “to continue offering extreme value to consumers.”The company stated that the decision was permanent.
Dollar Tree stated that the move was not in response to current market conditions and is not indicative of the times. It is, however, to reflect the changing times. “enhance the Company’s ability to materially expand its offerings, introduce new products and sizes, and provide families with more of their daily essentials.”
“The Company will have greater flexibility to continue providing incredible value that helps customers get the everyday items they need and celebratory and seasonal products Dollar Tree is best known for,”They added.
Dollar Tree said that the new price point allows them to purchase discontinued products that had been in stock at their stores.
“This new pricing strategy enables the Company to reintroduce many customer favorites and key traffic-driving products that were previously discontinued due to the constraints of the $1.00 price point,”They added.