USA: Dollar Tree to raise prices to $ 1.25 for the first time in 35 years
Discount Variety Retail Chain Dollar Tree store, famous for selling products for US$ 1, reported that it will raise its prices for the first time in 35 years to $ 1.25 for the first time. According to CNN, the retail brand specified that this decision is not due to "temporary or short-term market conditions" and the increase is permanent. The Chesapeake, Virginia-based chain, which operates similarly to the Prichos brand in Mexico, was one of the last remaining “dollar stores”. "Dollar Tree believes the time is ripe to move away from the $ 1 price constraints in order to continue to deliver extraordinary value to customers," the company said in a statement. He noted that this price increase will allow him to face increases in the costs of merchandise and higher operating expenses. The new booth will roll out to more than 2,000 new Dollar Tree locations beginning in December and the remainder throughout 2022. For 35 years, the company had managed to keep its prices low during inflationary periods. Although some items in its stores cost more than a dollar, Dollar Tree is mainly known for its products that sell for 21.58 pesos.
The United States is experiencing a period of inflation amid the growth of its economy that has affected low-cost retailers. During October, inflation in the United States rose again beyond expectations and set new highs not seen in a long time.
See here for more: https://www.entrepreneur.com/article/399220