‘Too much:’ Dollar Tree shoppers may shop elsewhere after price hike
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WEST PALM BEACH, Florida (WPTV) — Earlier this month, Dollar Tree executives announced in an earnings call that they’re raising some of their prices as high as $7 and now, local shoppers are reacting to the news.
“I think Dollar Tree merchandise is actually pretty good,” Scott Kolack told WPTV outside a West Palm Beach Dollar Tree.
Kolack is a regular Dollar Tree shopper.
“They have a good selection of a lot of odds and ends we all need at home,” Kolack said.
Kolack told WPTV he was disappointed when he learned Dollar Tree is now raising some of their prices to as high as $7.
“If it were really going to go up $7, $5 to $7, that’d be too much. I’d rather just get everything at Walmart,” Kolack said.
The company’s CEO noted that Dollar Tree’s fastest growing demographic makes $125,000, but he did not say that specifically was the reason for the change.
“It’s 300 items among 3,000 stores and they’re doing it, because their consumers now are making more money,” said Eric Stuerken, co-founder of financial repair firm Better Qualified. “Could be a sign of what’s ahead in the economy-wise. When people are a little tighter, they start to look for different deals for everything.”
Stuerken said that’s his best piece of advice to consumers right now, as food prices remain high at many retailers.
“Look at either the websites or some of the coupons that you get in the mail and pay attention to those, because you can get some deals. One big thing I typically try to do, is look at the cost per serving or the cost per tablet or the cost per ounce,” Stuerken said. “A lot of those items look huge, but in the end of it, there is just as much in there as something that’s smaller, and it’ll save you money if you get the smaller one.”
WPTV reached out to Dollar Tree to see if the company would like to comment on the price changes and have not heard back.
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