Michigan Shoppers Will Pay More Than $1 Now at This Discount Store
Hey Michigan bargain shoppers, your shopping experience is about to get a bit pricier. If you love grabbing all those finds at your local discount store and making that dollar go the extra mile, you're going to need a few more bucks.
The popular Dollar Tree chain has announced that they will be raising the maximum price of items by the end of 2024. The new cap for items in the store will be moving to $7.00. The retailer stated the move, "... will allow for a wider range of choices such as food and snacks, beverages, pet care personal care and more, according to the discount retail giant", according to the Associated Press.
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Most consumers loved the whole concept of these "dollar stores" being just that, dollar stores. With the cost of just about everything rising, it was only a matter of time before the pinch hit the discount retailers.
In 2021, Dollar Tree announced they would be raising the base price of items to $1.25, and in June of 2023, they moved the cap to $5.00, according to Yahoo Finance. Now less than a year from the hike, prices are going up once again, but the retailer states it's all part of a positive plan.
“Over time you will also see us fully integrate multi-price merchandise more into our stores, so our shoppers will find $5 bags of dog food next to our traditional $1.25 pet treats and toys. And our $3 bags of candy will be found in the candy aisle," CEO Rick Dreiling said. "This is the next exciting chapter of the Dollar Tree value story. New items, more choices, and more savings."
Michgander's will see an increase at the 298 Dollar Tree stores located across the state. At the start of 2024, Dollar Tree operated 16,774 stores across 48 states and Canada.
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Gallery Credit: Madison Troyer & Zack Abrams