In order to appeal to people with higher incomes, Dollar Tree will soon cap its prices at $7.
The announcement was made during an investments call where the CEO stated that they plan on adding about 300 more “multi-price” products to their stores nationwide. This will mostly be food items, pet products, and personal care. These items will range from the current base price of $1.25 to $7, the maximum.
During the call, the store’s CEO said he believes they’ve been attracting people with higher incomes because of the variety of options they now carry. He claimed,
“fastest-growing demographic” earns a yearly salary that is “north of $125,000.”
The company last made changes in 2021 when they increased their base price from $1 to $1.25. Soon after, they raised the cap to $5.
