You’re going to be paying more than a dollar at Dollar Tree by next year
ROCHESTER, N.Y. (WHEC)— You may have to pony up some extra change the next time you stop by a Dollar Tree.
The retail chain announced Tuesday that it will, in fact, be raising the price of the majority of its products to $1.25 in all its stores by early 2022.
You may remember back in September the store said it would be bumping prices of certain items up to $1.25 or $1.50. A News10NBC Consumer Alert told you skyrocketing shipping costs caused by supply chain issues proved to be especially sensitive for the chain, which has consistently kept its $1.00 price point since 1986.
However, in its announcement, Dollar Tree said the decision is "permanent" and is not a short-term reaction to the current supply chain conditions.
The company says the move will allow it to adjust to high costs, and wage increases, among other factors. Additionally, it says bumping up the prices will allow it to bring back "key-traffic-driving" products.
It says the goal is to start the move in at least 2,000 "legacy stores" by in December before completing the full rollout.