Dollar Tree recently announced that it will begin raising the price on some of the items in its stores in order to expand the assortment of products and introduce new ones to consumers.

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CNN Business says this rise in prices at Dollar Tree stores is in response to inflation. According to the Associated Press, “Annual inflation in the U.S. reached 4.2% in July, the highest in three decades.” Inflation isn't the only cause for Dollar Tree to need to raise prices. The company is also battling outrageous shipping costs, higher wages, and supplier costs.

Among the items that will see a price increase to $1.25 or $1.50 are seasonal goods, stationery, and kitchenware.

In 2019, Dollar Tree started selling items priced at $3.00 and $5.00 in a special section in some of its stores and to date, some stores still have these special higher-priced sections.  According to CNN, by the end of 2024, Dollar Tree plans to have these special higher-priced areas in 500 of its stores.

In a company press release Michael Witynski, President and Chief Executive Officer, stated, “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."

Witynski also stated, “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, whether it is $1.00, $1.25, $1.50.”

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