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Even Dollar Tree is going after rich shoppers now
Dollar Tree is raising prices up to $7 and expanding into wealthier ZIP codes where over 25% of new stores opened in areas with median incomes above $100,000.
- Last year, Dollar Tree announced more than a quarter of new stores opened in ZIP codes with median household income at least $100,000 and sold items for up to $7 by 2025.
- Facing limits to the $1 model, Dollar Tree began selling products for up to $5 a few years ago and later raised its base price to $1.25.
- Last quarter, customer data show 60% of new Dollar Tree customers made at least six figures, and the company says shoppers who make over $100,000 drive much of its growth as it renovates about 3,000 locations and more than 100 stores.
- The company is expected to report annual revenue rose more than 10% in 2025, its fastest growth in nearly a decade tied to store openings in wealthier enclaves.
- As dollar stores spread, critics note communities opposing dollar-store openings cite poor working conditions and local shop undercutting, while the chain expands in lower-income metropolitan areas and sees growth among households earning below $20,000.
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Even Dollar Tree is going after rich shoppers now
By Lily Meier, Max Rivera and Denise Lu, Bloomberg News Dollar Tree’s 9,000th store opened last year within a few miles of a Louis Vuitton, a steakhouse selling $525 Wagyu beef and Audi, Porsche and Ferrari dealerships, where the average car costs more than what a typical Dollar Tree shopper makes in a year. Related Articles World shares mostly advance and Japan falls ahead of Lunar New Year holidays With electrici…
·Denver, United States
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Total News Sources15
Leaning Left0Leaning Right1Center9Last UpdatedBias Distribution90% Center
Bias Distribution
- 90% of the sources are Center
90% Center
C 90%
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