Dollar Tree’s Price Hike: What it Means for North Dakota Bargain Hunters

Well, well, well, gather round, penny pinchers! Dollar Tree's doing something that might just make you raise an eyebrow or two, especially if you're counting your cents up in North Dakota.

Get this, they're not just a dollar store anymore; they're morphing into a "7 dollar store" now! Yep, you heard it right. During their latest chat about profits, CEO Rick Dreiling spilled the beans on this whopper of a change. They're rolling out over 300 fancy new items priced anywhere between $1.50 and a whopping $7, hitting up 3,000 stores, possibly including the ones up north.

Seems like Dollar Tree's playing the game of budget gymnastics. First, they teased us with a $5 cap last June, then tossed in a couple of quarters more in 2021, and now they're cranking it up to $7! And guess what's getting the royal treatment? Your everyday essentials like food, pet stuff, and self-care goodies. While not everything's taking that pricey plunge, it's still a pretty bold move for North Dakota's bargain hunters.

Dreiling's also painting a picture of a whole new shopping experience. Imagine strolling past $5 bags of dog chow rubbing elbows with $1.25 chew toys and treats, while $3 bags of sweets cozy up in the candy aisle. It's like they're saying, "Hey, all budgets are welcome here!"

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But wait, here's the juicy part: Dollar Tree's noticed some fancy-footed high rollers sauntering in lately, even in good ol' North Dakota. Seems like folks pulling in over $125,000 a year are making themselves comfy in the aisles, and it's not just a one-off—it's happening everywhere, even where the buffalo roam.

And Dollar Tree ain't the only one doing the shuffle to keep up with the times. Word on the street is that dollar stores in general are turning heads of the well-heeled crowd. According to InMarket, there's been a 4% uptick in visits from folks with six-figure salaries.

Now, while Dollar Tree's busy buttering up a broader crowd, they're also tightening their belts. They've got their eye on shuttering about 600 Family Dollar joints this year, with more chop-chop on the horizon for both Family Dollar and Dollar Tree locations down the road. Looks like they're trimming the fat to stay lean and mean, which might just ruffle some feathers for North Dakota's deal diggers.