Dollar Tree shoppers may be in for a shock as sticker prices are set to increase.
In addition to its Dollar Tree Plus price hike, the chain will bring new products at slightly more than a dollar to meet customer’s growing needs, according to a press release statement Tuesday.
The Fortune 200 company stated this rise is based on “positive customer reaction and the success of its new Combo and Dollar Tree Plus store formats.”
Many more of these types of stores will be popping up in the coming years with Dollar Tree gearing up to open or revamping 500 Dollar Tree Pluses by the end of the fiscal year and 1,500 by the end of next year, according to its press release.
“Our brand promise is that customers get great value for what they spend at Dollar Tree,” President and Chief Executive Officer Michael Witynski said in the press release. “We will continue to be fiercely protective of that promise, regardless of the price point, whether it is $1.00, $1.25, $1.50.”
However committed corporate Dollar Tree says it is, area residents have some thoughts.
According to a Facebook poll in various local community groups, 488 locals from Oxford, Jacksonville, and surrounding areas voted that the change would have some overall impact, whether slightly or greatly, while 274 voted that it would have not much or no impact at all on their personal views or shopping trends at the store.
Many locals are worried how this change will affect lower income or impoverished communities that rely on the stores’ low prices to function.
“I see elderly people shopping in it a lot,” local Dollar Tree shopper Lulu Seats wrote in a social media comment. “Single parents, and low income families and the homeless shop the store. I understand that the business has to increase the price, but people will be hurt.”
Others stated that the increase was to be expected as inflation rises and supply chain issues continue to roll onward.
“I would love to agree with the raises but only if they bring more things to purchase in the store,” another local shopper, Emily Jinright, wrote.
Whether for or against it, most folks asked if the store would consider changing the name. Raising prices to $1.25, $3, or $5 doesn’t ring true to the Dollar Tree moniker.
The mostly-a-dollar tree, coming to a town near you.