Dollar Tree (Chesapeake, Va.) announced it will begin selling most of its products for $1.25 throughout its fleet of stores instead of $1, Reuters reports. The new strategy comes after pandemic-related challenges as well as rising freight costs, according to the retailer.
The new price points will take affect during the first quarter of 2022, and its CEO Michael Witynski says the move will allow the retailer to introduce new products and new assortments.
Freight costs have continued to rise due to global supply chain disruptions and Dollar Tree has said its freight costs were much higher than expected for the third quarter.