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Dollar Tree is Raising Prices Again With Some Items Costing Up To $7

I hate to the the bearer of bad news, but Dollar Tree is officially no longer a dollar store and we really need to talk about it.

The days of enjoying a bargain price of $1.25 are dwindling and it seems like each week I am finding more and more items that have raised in price.

front of dollar tree store

Just two weeks ago, I found a handful of items had increased in price. Last week, I found another handful of items that increased in price to be as much as $3.75 each!

And then today, I found that Dollar Tree had increased their price of bags of chips from $1.25 to $2.50 and I am sure the price increases will not stop there.

chart showing dollar tree price increases 2024

Dollar Tree Has a Goal of a $10 Price Point on Some Items

In a recent Dollar Tree Earnings Call on March 13, 2024, Dollar Tree’s CEO, Rick Dreiling referenced an update on their $10 target price point saying:

“We continue to believe in the $10 target that we announced … and we’re continuing to march toward that goal.”

He then continued saying:

But for now, “the path is to get to $7 in 2024, and we’re intently focused on that,”

So, what does this all mean? This means that the price increases will continue.

Now, it’s important to point out that not all Dollar Tree items will raise in price (at least that isn’t the plan for now).

Why Dollar Tree is Raising Prices

Since the original price hike from $1.00 – $1.25 at Dollar Tree, people have speculated on as to why Dollar Tree has increased their prices.

While we all know that retailers struggled with getting merchandise during 2020, that seemed to be only part of the problem.

Some Dollar Tree stores have also seen an increase of theft which can contribute to price hikes too.

chips price increase at dollar tree

As for an insight as to why Dollar Tree is raising prices and introducing new items at higher price points, in the same Dollar Tree Earnings Call from March 2024, Dollar Tree’s CEO, Rick Dreiling said this:

We are especially excited about the next phase of our multi-price expansion strategy.

We are especially excited about the next phase of our multi-price expansion strategy.

He then talks about how the merchandising team is always working on new ways to deliver value while expanding their assortment across a wider range of price points.

He then says they expect to expand the assortment of items and their prices across 3,000 stores this year. Price points will range from $1.50 – $7.00.

He did also say that even as their products expand, and prices increase, the vast majority items will stay at the entry level price point which I am guessing is the $1.25.

soda increase at dollar tree

How to Save Money at Dollar Tree

While Dollar Tree may continue to raise prices, I will still continue to shop at Dollar Tree. I find many new items each week worth the $1.25 and I’ll continue to shop there as long as they honor that price point for the majority of items. However, as new items are added, I will certainly be watching to ensure I am getting the best deal and you should too!

In case you didn’t know, Dollar Tree does accept manufacturer coupons so if you happen to find a coupon for an item they carry, you can save even more.

And if you happen to be shopping online, buying items in bulk at Dollar Tree can help you save (even split the costs with a friend).

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