Sadly, Your Buck Will Be Buying Less at Central Texas Dollar Trees
Welp, a dollar just doesn't go as far as it used to here in Central Texas, or really anywhere for that matter. Case in point, Dollar Tree just became the most recent of the "dollar" franchises to raise prices.
Here's a fun fact - according to Scrape Hero, a data company, there are 7,772 Dollar Tree locations in 3,392 cities in 49 states. Texas is home to 8% of those stores, with 654 locations making the Lone Star State the number one state in the U.S. for Dollar Trees.
According to a report from our partners at KWTX, Dollar Tree announced that they'll be raising their price point to $1.25 at 2,000 stores by December, and all of their stores by the end of the first quarter of 2022.
Dollar Tree stated in its earnings report, “The $1.25 price point, which will apply to a majority of Dollar Tree’s assortment, will 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 good news is that the $1.25 price point will allow Dollar Tree to offers a wider selection of goods.
Dollar Tree President and CEO Michael Witynski said, “Lifting the one-dollar constraint represents a monumental step for our organization and we are enthusiastic about the opportunity to meaningfully improve our shoppers’ experience and unlock value for our stakeholders.”
A recent survey showed that 91% of Dollar Tree customers would continue to shop there even with the new price point.
This really isn't much of a surprise, as the company announced in late September that they would start selling products at $3 and $5, which saw their shares go up by 18%.
At $1.25, $3 or $5, you'll still find some great deals.