Quote:
Originally Posted by DeanFL
News>
Dollar Tree, a favorite shopping option of bargain hunters, will raise its baseline price for items from its namesake dollar to $1.25, the company said Tuesday.
President and CEO Michael Witynski blamed inflation but insisted that Dollar Tree customers will roll with the price-tag punches.
“Our Dollar Tree pricing tests have demonstrated broad consumer acceptance of the new price point and excitement about the additional offerings and extreme value we will be able to provide,” Witynski said in a statement detailing third-quarter company earnings. “Accordingly, we have begun rolling out the $1.25 price point at all Dollar Tree stores nationwide.”
Most of the company's loyal customers understand the nation's struggles with inflation and supply chain slowdowns, and they are likely to stick with Dollar Tree despite having to shell out $1.25 for many items, Saunders said.
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IMO these types of stores harm the neighborhoods they are built in by putting local businesses out of business and pushing disposable junk made in China by companies with no moral or ethical guidelines beyond "make it fast, make it cheap".