Dollar Tree will raise its price cap to $7 as it experiences an influx of shoppers earning yearly salaries over $125,000, company officials said.
“This year, across 3,000 stores, we expect to expand our multi-price assortment by over 300 items at price points ranging from $1.50 to $7,” Dollar Tree CEO Rick Dreiling said, according to a report.
An increase in the discount giant’s price cap comes only a few years after Dollar Tree increased the base price of items to $1.25 and months after the price cap was increased to $5, the report noted.
Personal care, pet products, foods, and snacks are anticipated to be the items nearing the $7 figure as wealthier shoppers fill the aisles.
“Dollar Tree added 3.4 million new customers in 2023, mostly from households earning over
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