Dollar Tree Will Soon Offer $7 Items

Bargain shoppers will soon see a big change at one of the country’s most popular discount stores — Dollar Tree. Its CEO, Rick Dreiling, said in a fourth-quarter earnings call that a price bump is coming. Dollar Tree raising its prices again means some items will cost as much as $7 by the end of the year.

Dreiling called it an effort to offer more options and appeal to more customers. But the company, which also owns Family Dollar, has spent the last few years drifting away from its namesake mission.

When is Dollar Tree Raising its Prices?

Dreiling said the price changes are part of a “multi-price expansion strategy” that will give shoppers more variety, hence why they call the initiative “More Choices.”

Shoppers may remember Dollar Tree raising its prices to $1.25 in 2021. The store also has since rolled out $3, $4 and $5 items in around 6,500 stores as a part of the More Choices campaign. The latest price change means hundreds more items will range in price from $1.50 to $7. Those items will be available across 3,000 stores, though Dreiling did not say which stores or how soon customers will see them.

While no one jumps for joy at the news of price hikes, Dreiling pointed out that the majority of the stores’ products will be at the lower price point.

Are There Any True ‘Dollar Stores’ Left?

Dollar Tree raising its prices may have you looking for other dollar stores to spend your singles at. The company hasn’t been able to claim that everything in its stores cost a dollar since 2019. Most dollar stores are in the same boat. Places such as Dollar General and Family Dollar still offer items that cost $1, but not everything is that price. Dollar General does have a section of its website called Dollar Deals so you can go straight for the lower priced products.

We also rounded up a list of the most popular online dollar stores for you to continue your discount shopping.

Mackenzie Raetz is senior editor of freelance at The Penny Hoarder.