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$1 no more: One dollar store is raising prices while customers flock to its competitor

Mount Equity Group Tokyo Japan > News > Markets > $1 no more: One dollar store is raising prices while customers flock to its competitor

STATEN ISLAND, N.Y. — The dollar store might cost you more than a dollar these days.

For more than three decades, Dollar Tree, a national discount variety chain that sells everything from craft supplies and beauty products to candy, snacks and toys — has maintained its “everything-for-one-dollar” philosophy, managing its kitschy but successful retail concept even through several challenging inflationary periods.

Last year Dollar Tree announced it would be increasing its prices beginning in December.

Since Dollar Tree began increasing its prices to $1.25, the company’s rival Dollar General has seen an increase in shoppers while it sticks to its $1 price for items, CNN Business reported.

Though the names of the two competitors brand “dollar” they are not true dollar stores. Dollar General has not sold everything for $1. Only 20% of the items purchased are $1 or less, the report says.

However, Dollar General recently began…

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