DOLLAR Tree got its name for selling products at $1 or cheaper.

However, in late 2021 it was announced that the chain would be raising its prices.

Dollar Tree

The discounted retailer will start selling some products at $1.25 and $1.50 at its Dollar Tree Plus stores.

These stores, as well as selected legacy Dollar Tree shops, will also test selling products at $3 and $5.

The retailer is currently on track to have 500 Dollar Tree Plus stores by the fiscal year-end.

Another 1,500 stores are then planned for fiscal 2022 and at least 5,000 shops are expected by the end of fiscal 2024.

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Why is Dollar Tree changing its prices?

The move to raise prices comes as supply chains have been pressured during the coronavirus pandemic.

This has caused Dollar Tree to pay more for its products.

“We recognize the need to make adjustments in the current economic environment,... Michael Witynski, chief executive officer of Dollar Tree said, reports the New York Post.

Meanwhile, Witynski claimed in a statement that adding items beyond the $1 mark will help meet demands from customers who have been calling on the discounted retailer to diversify its product selection.

“Our brand promise is that customers get great value for what they spend at Dollar Tree, Mr Witynski said.

...We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1, $1.25, $1.50.”

What did people say about the Dollar Tree changes?

Dollar Tree patrons took to Twitter to complain about the rise in prices.

...It won't be everything's a dollar anymore. Yes I know it's only raising by a quarter lol But that's not the point. It's the end of an era. I love the dollar tree. Just went about an hour ago but it's sad to see it change,... one user wrote.

...Dollar Tree got some nerve talking about $1.25,... another said.

...So what will be the new store name? Dollar & Cents? 5 Quarters? Money Tree? More Than A Buck?... another humorously added.

A worried shopper tweeted: ...I should try to get to Dollar Tree to stock up on what I know I need and use before prices increase by a quarter. A quarter isn't much to start, but it adds up in the end. I usually spend $50 in one trip, and all depending on taxed items, I could be spending UP TO $12.50 extra....

Another simply declared ...Change the name if I can’t get everything for a dollar at dollar tree....

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