Source of the article – Business Insider View Source
Dollar Tree left many customers feeling angry and disappointed after it raised prices, CNN reported.
According to the outlet, shoppers have been using various social-media platforms to express their feelings.
One customer said they were “sick to my stomach” over the higher prices. Another referred to the change as a “calamity,” per CNN.
The discount chain made headlines last year after announcing that most of its $1 items would soon be sold for $1.25. It was the last of the major dollar store chains in the US to stand by its $1 commitment even as investors applied pressure for it to raise prices.
Its CEO Michael Witynski said the new prices would allow the company to withstand rising supply chain and labor costs, which were eating into profit margins.
But despite the reasoning, many customers remain unhappy.
Some, according to CNN, have started calling the chain “$1.25 Tree” and suggested the store should change its name.
Dollar Tree did not immediately respond to Insider’s request for comment.
Leniza Costa, a beauty influencer and frequent customer from Pawtucket, Rhode Island, commented on Dollar Tree’s decision. She told CNN: “I wish they wouldn’t have done that because most of their shoppers are people who are not getting paid a lot of money.”
She added: “This is the worst time to increase the price, when everything else is so much.”
The chain store’s increased prices signal the death of the traditional dollar-store concept in the US, which has existed for decades, Insider’s Mary Hanbury reported.
After WWII, Dollar Tree kept its prices at $1, unlike most other dollar stores, which hiked prices in line with inflation.