Dollar Tree store fans expressed their disappointment over price increases online through the TikTok app and other social media.
Dollar Tree's recent decision to end $1 prices after 35 years and raise most items at stores to $1.25 has elicited an angry response from many loyal customers on Twitter, Facebook, TikTok and YouTube,Video bloggers with hundreds of thousands of followers posted videos of their reactions to the price hike - or entering a store for the first time and seeing Dollar Tree's ubiquitous green and yellow"Everything's $1" circles replaced with $1.25 signs.
"I wish they wouldn't have done that because most of their shoppers are people who are not getting paid a lot of money," said Leniza Costa, a beauty influencer in Pawtucket, Rhode Island, who is"known for always going" to Dollar Tree."This is the worst time to increase the price, when everything else is so much," she said.
Macon Brock, a Dollar Tree founder, said in his 2017 autobiography that"I viewed the dollar-only concept as sacred. It was everything. Without it, we'd be just another discount retailer."As recently as August, Dollar Tree chief executive Michael Witynski said the company was committed to $1."This dollar price point is going to be more important than ever," he said on an analyst call.
Some merchandise also suffered as a result of the $1 strategy. The chain had to discontinue several"customer favorites," the company said in November, particularly in packaged and frozen foods. Raising prices will give Dollar Tree flexibility to reintroduce those items, expand its selection, and bring in new products to draw customers, according to the company.
The performance of stores with $1.25 prices"continues to validate our earlier tests and demonstrates the success of the Company's strategy and execution," the board said in a statement. The board said the move to $1.25"was not a decision the Company took lightly, and required careful planning, including to ensure that it continues to provide a meaningful assortment with extreme value" to shoppers.
"We all, in the Dollar Tree community, hoped it wouldn't happen," she said, adding that $1 was a price"you could count on."
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