Dollar Tree adds higher priced products

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Dollar Tree, Inc. announced on Wednesday (September 29) that it will be introducing price points greater than $ 1 in all Dollar Tree Plus stores and testing higher prices on some items in select Dollar Tree stores.

The company expects to have at least $ 500 Tree Plus stores in the U.S. by the end of fiscal 2021 with products priced at $ 1, 3, and 5, an additional 1,500 to open in fiscal 2022, and at least $ 5,000 Tree Plus The locations will be opened by the end of the 2024 financial year.

“For decades, our customers have enjoyed the thrill of hunting for $ 1 – and we remain committed to this core promise – but many tell us that they also want a wider range of products when they go shopping,” President and CEO Michael Witynski said in of the company announcement.

“We believe that testing additional price points above $ 1 on Dollar Tree products will, over time, allow us to expand our range, introduce new products, and meet more of our customers’ day-to-day needs,” he added.

Dollar Tree also has 105 combo stores in different price ranges and expects to add another 400 in fiscal 2022 and potentially 3,000 total over the next few years.

“We are a test-and-learn organization of what we are doing with this new initiative,” said Witynski. “We listen to our customers and believe that it makes shopping with us an even better experience. We will continue to offer our customers the thrill of the hunt. “

Related: Dollar Tree, Inc. Introduces New Media Network to Help CPG Brands Promote

In April, Dollar Tree unveiled its retail media network, Chesapeake Media Group, a virtual platform for brands to connect with shoppers through a targeted digital experience. The Family Dollar brand also revealed collaborations with Aki Technologies and Swiftly.

Chesapeake Media Group enables CPG brand partners to secure dynamic ad placements, sponsored searches, targeted content and product suggestions. It also offers “closed loop reporting” and “full funnel solutions” as part of the service.

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NEW PYMNTS DATA: TODAY’S SELF-SERVICE TRIP – SEPTEMBER 2021

Above: Eighty percent of consumers are interested in non-traditional checkout options like self-service, but only 35 percent have been able to use them for their recent purchases. Today’s Self-Service Shopping Journey, a collaboration between PYMNTS and Toshiba, analyzed over 2,500 responses to learn how merchants can address availability and perception issues to meet demand for self-service kiosks.


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