Iowa Dollar Tree’s Will No Longer Exist…Sort Of

Dollar Tree's located in Iowa, as well as the rest of the country, may no longer exist anymore. The days of a true "$1 store" appear to be on their way out. I'm not saying you won't see Dollar Tree stores and buildings located throughout the state, I'm saying they might have to change their name to "Dollar, or maybe $5, Tree."

Dollar Tree's prices are going up.

According to Business Insider, Dollar Tree is "adding products that cost well over $1.25 and the company is testing frozen and chilled foods that cost up to $5 at some stores." Supposedly the tests for the products are going well and customers should expect to see more higher-priced products at Dollar Tree stores moving forward.

Many Dollar Tree customers remember the decision made by the company to increase prices from $1 to $1.25 back in 2021, which was a decision made due to inflation. To give Dollar Tree credit, they have stuck to this price much longer than its rival dollar stores. Various dollar store brands have sold items for more than $1 for quite some time.

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While this price increase has disappointed some customers, it hasn't affected Dollar Tree's sales. According to Business Insider, "sales continued growing paving the way for higher-priced items, executives said at an investor day event earlier this month."

Dollar Tree's Chief Merchandising Officer, Richard McNeely spoke about the price increase and he said this is the future.

This is the gateway to the future. We now have the platform to expand our assortment and our price points. This is a huge market that is untapped for us.

According to Business Quant, there were 96 Dollar Trees located in Iowa, back in 2018. We can safely assume that number has grown to over 100 stores over the last 6 years. Now that Dollar Tree has added items and raised prices, this proves that in 2024, "dollar stores" no longer exist.