Calling all bargain shoppers! Fave discount retailer Dollar Tree may raise its prices—and soon. Even though Dollar Tree has stayed true to its name, selling everything for a dollar, it looks like that may change.
Rumors swirled last spring, citing the potential for price changes. According to recent reports, Dollar Tree is indeed testing a new line that departs from the previous everything’s $1 model. The new collection, called Dollar Tree Plus!, will feature price points outside of the retailer’s well-known low, low, low range.
photo: Mike Mozart via Flickr
Gary Philbin, President and Chief Executive Officer, said in a press statement, “We are excited to kick off the initial introduction of Dollar Tree Plus! multi-price point products into select test stores. These products are designed to provide our shoppers with More Choices, More Sizes and More Savings. We are in the process of expanding this test to more than 100 Dollar Tree stores.”
Philbin also added, “With its ‘Everything’s a Dollar’ model, Dollar Tree has remained one of the most unique, differentiated and defensible brand concepts in all of value retail. However, we have always been a ‘test-and-learn’ organization that is committed to evaluating all opportunities to deliver great value for our customers while driving long-term value creation.”
New prices aren’t the only changes coming to stores under the Dollar Tree umbrella. The company’s Family Dollar brand recently made news, debuting its plans to sell alcohol in nearly 1,000 stores!