Dollar Tree, Inc. announced Wednesday, September 29 that it will roll out prices over $ 1 in all Dollar Tree Plus stores and test higher prices on certain items in select Dollar Tree stores.
The company plans to have at least 500 Dollar Tree Plus stores – which sell products priced at $ 1, $ 3, and $ 5 – across the United States by the end of fiscal 2021, with 1,500 others scheduled for fiscal 2022 and at least 5,000 Dollar Tree Plus to open by the end of fiscal 2024.
âFor decades our customers have enjoyed the thrill of the hunt for $ 1 value – and we remain committed to that basic proposition – but many tell us they also want a wider product assortment when they come. shop, âPresident and CEO. Michael Witynski said in the company’s announcement.
“We believe that testing additional prices above $ 1 for the Dollar Tree product will allow us over time to expand our assortments, introduce new products and meet more of our customers’ daily needs,” he added.
Dollar Tree also has 105 combined stores, which offer a variety of prices, and plans to add another 400 in fiscal 2022 and potentially a total of 3,000 over the next several years.
âWe are a ‘test-and-learn’ organization, which is what we are doing with this new initiative,â said Witynski. âWe listen to our customers and believe this will make buying with us an even better experience. We will continue to deliver the thrill of the hunt to our customers. “
Related: Dollar Tree, Inc. Unveils New Media Network to Help CPG Brands Advertise
In April, Dollar Tree launched its Chesapeake Media Group retail media network, a virtual platform for brands to engage with shoppers through a targeted digital experience. The Family Dollar brand also unveiled collaborations with Aki Technologies and Swiftly.
Chesapeake Media Group enables CPG brand partners to secure dynamic ad placements, sponsored searches, targeted content and merchandise suggestions. It also offers âclosed loop reportingâ and âfull funnel solutionsâ as part of the service.