Dollar Tree to Sell Some Items for $7

Dollar Tree is increasing its price ceiling to $7, as more six-figure shoppers flock to the discount store, Business Insider reports.

This is an uptick from its price increase to $5 in June, though most of the items Dollar Tree sells will be at the $1.25 price point, CEO Rick Dreiling said on an earnings call.

The goal is to offer shoppers a more “relevant assortment,” Dreiling said, noting that most of the chain’s new customers in 2023 came from households making more than $125,000 a year.

A Morning Consult survey of 50,000 Americans last year found households with six-figure incomes far more likely to shop at dollar stores than they were in 2022, with the percentage rising to 45% from 39%.

Higher-priced items will include food and snacks, beverages, pet care, and personal care items.

Last week, Dreiling said, Dollar Tree had completed its rollout of frozen and refrigerated foods between $3 and $6 at its 6,500 stores.

Separately, citing shoplifting at its Family Dollar sister stores, Dollar Tree last week announced it is shutting 1,000 Family Dollar stores.