ON her recent trip to the discount store, a Dollar Tree shopper came across a hidden sign indicating that a price jump was on its way.
The sign, alerting fans of a new $1.75 price tag, sparked fears that the increase would hit multiple Dollar Tree sections in just hours.
Dollar Tree shoppers may soon see price increases at the discount chain[/caption]
A Dollar Tree shopper commented on the chain’s impending price increases on TikTok[/caption]
While Dollar Tree started out selling goods for just $1, the chain has bumped up its prices over the years, increasing to $1.25 in 2021.
The retail giant then introduced three pricing models – called Dollar Tree 1.0, 2.0, and 3.0 – in a phased approach beginning in 2021 and continuing into this year, with prices ranging from $1.25 to $7.
Although most products cost $1.25 price, customers have begun to spot more and more hikes to $1.50 and $1.75 at the discount chain.
Avid Dollar Tree shopper Kimberly (@kimberlymichbeauty) spotted a sign indicating another impending price increase on her recent trip to the store.
“This is so unreal you guys,” said the TikToker in a video on Thursday, holding up a green paper sign that was hidden in the pet aisle.
The sign indicated that the price on the fake florals would soon be $1.75 – a 50 cent jump, according to the shopper, who shared that she was “so sad.”
A Dollar Tree shopper spotted a sign revealing that the price of florals would increase to $1.75[/caption]
Although disappointed by the price increases, Kimberly was not shocked.
She had previously shared another TikTok video last week in which she pointed out a number of Dollar Tree price hikes that she expected to roll out from the end of June to the beginning of July.
“Dollar Tree I am so mad at you right now,” said Kimberly as she walked around the store, sharing items that would possibly jump from $1.25 to $1.50 or $1.75.
She indicated that a variety of products could soon become more expensive, including glassware, batteries, plastic storage containers for food, plastic cups, and cleaning supplies.
Her followers predicted that the prices would go up starting on Friday, June 27.
FAN FRUSTRATIONS
Dollar Tree fans in the comments section were left fuming over the potential price increases.
“If they keep raising prices, I’m not going to be shopping there – that’s for sure,” said one user. “I can always go to Walmart or Aldi.”
“Funny how they just increase the price on EVERYTHING, while they could roll back the price of a LOT of items to $1 like before,” fumed a second.
Dollar Tree pricing
Despite the name of the store, Dollar Tree recently added items that cost more than $1 to its inventory.
Most items at the store cost no more than $1.25, but items in the Dollar Tree Plus section cost up to $5.
Dollar Tree introduced Plus aisles to 100 locations in 2019 as part of an effort to diversify its products.
By 2022, Dollar Tree had added the items to over 1,500 locations.
“We believe testing additional price points above $1 for Dollar Tree products will enable us over time to expand our assortments, introduce new products and meet more of our customers’ everyday needs,” president and CEO Michael Witynski said in a statement.
“Our brand promise is that customers get great value for what they spend at Dollar Tree. We will continue to be fiercely protective of that promise, regardless of the price point.”
Others agreed that they would turn to other retailers should the discount store continue to increase its prices, with one user arguing that price hikes would make certain products no longer worth it.
“No!!! I will not be paying that price for those lil dinky florals. They were barely worth $1.25!!!” they complained.
WALLET WOES
It’s not the first time that Dollar Tree has spiked its prices.
Earlier this year, customers reported seeing the price of food items like ramen, bread, and buns increase from $1.25 to $1.50, while others saw the same cost jump on reading glasses.
As Kimberly pointed out in her video, kitchen products including aluminum foil and foil pans now cost $1.75.
The discount retailer’s top boss, Michael Creedon, spoke out on the price switch-ups at Dollar Tree’s 2024 fourth quarter earnings call in March.
He shared that the price increases were a strategy to help mitigate the impact of tariffs and inflation, alongside other methods such as negotiating with suppliers or eliminating certain items.
The CEO said that, although there was “still a great deal of uncertainty” on how the trade war would impact Dollar Tree, the chain was assessing how to best reduce the impact, including via its multi-pricing strategy.
“In terms of the different price points, we look at that value,” explained Creedon.
“We look at convenience and we look at discovery and we say where can we offer that and maybe move on some pricing as part of not just tariffs, but an inflationary cost environment that we’ve got to mitigate.
“And so that’s where you’re seeing that work where it makes sense. And I think we’re positioned better than we ever have before to manage what is a very uncertain and volatile arena that we’re in.”
Dollar Tree shelf with aluminum foil cake pans and other foil pans, priced at $1.75.[/caption]
Dollar Tree CEO Michael Creedon spoke out on the reasons behind the chain’s changing prices[/caption]
