‘I stopped going after the 1st price hike’: Customer calls out Dollar Tree for raising prices to target ‘higher income’ audience
A Dollar Tree shopper is alarmed by the store's recent announcement about higher prices and has a number of rebranding suggestions to fit the chain's new approach.
TikToker Charlise (@lexicharlise) has drawn more than 1.5 million views to a video recorded Wednesday. In it, she responds to an announcement from the retailer that it's raising prices on its biggest-ticket items from $5 to $7.
According to Kiplinger, the decision was made by Dollar Tree Chairman and CEO Rick Dreiling during a quarterly earnings call earlier this month. The rationale? As the author of the article posited, "The price hike may be in response to the fact that in 2023, most of Dollar Tree's shoppers came from households with a higher net worth and annual earnings of more than $125,000."
A news release referenced in the article included some corporate speak about the price hikes. "As we look forward in 2024, we are accelerating our multi-price rollout at Dollar Tree and taking decisive action to improve profitability and unlock value at Family Dollar," Dreiling said in the announcement.
"Y'all, why is Dollar Tree changing the prices from $1 to $7?" Charlise asked in her video, overstating the price increases a fair bit. "Did y'all hear the explanation that they had? They said their target audience has a higher income."
She continues, "OK, change the name. Wealthy Tree. Fortune Tree. Rich Tree. Bankroll Tree. Moolah Tree. Wealthy Tree, but baby, just take the 'Dollar' off. Or just call it 'Tree,' period."
@lexicharlise they lowkey called us broke but who they think finna shop there now?? kylie jenner??
♬ original sound - charlise ????
Several commenters came in with variations of, "There is nothing at my local dollar tree worth $7."
Another said, "I was already mad they changed it to 1.25 tree lmao."
Yet another noted, "I stopped going after the 1st price hike. I realized Walmart had the same stuff I was buying for 97 cents."
As the Daily Dot covered earlier this month, at least one other shopper has taken to TikTok to "reveal" price increases at the retail store. For another customer, the presence of a price scanner was enough to show that things were going south while prices were going north.
The Daily Dot has reached out to both the creator and Dollar Tree via email.
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The post ‘I stopped going after the 1st price hike’: Customer calls out Dollar Tree for raising prices to target ‘higher income’ audience appeared first on The Daily Dot.