Retailer With Eastern Iowa Locations is Raising its Prices By 25%
If you're like me, you love a deal. As we head into the holiday season, everyone wants the best deal possible. A chain that's always been able to spike the football on good deals is increasing its prices and by next year, everything will cost 25% more.
Everything at Dollar Tree will no longer be a dollar
In 2021 it does feel like an ill-fated model, no? Offering everything for a dollar (or less). It seems so... 90's? But when you're in a pinch for candy, cards, housewares, or toiletries, who can beat that price? But will you pay more? 25% more? Dollar Tree announced on its website that you'll have to if you plan to shop there in 2022.
The chain experimented with higher prices and some locations this year and, according to the company itself, it was a success and customers were okay with paying more. When you really think about it, $1.25 isn't that bad. And, that's what the cost will amount to, 25 more cents per most item).
Dollar Tree has good reasons for the cost hike
The company insists this isn't a reaction to inflation, nor a temporary ploy to generate more revenue. They say it's to cover rising employee wages and to help them better sell customer favorites, which they say now cost more. If you're wondering when this change will occur, by next year, everything will be $1.25.
This is the first price hike for the company in over 30 years. The retailer sold items for just a buck for 35 years. In fact, they were called "Only $1.00," before they changed it to Dollar Tree in 1993. The company has no plans to change its name again.
Dollar Tree has over 15 locations in Eastern Iowa spanning Cedar Rapids to Waterloo.