I know that Dollar Tree raising prices from $1 to $1.25 is old news at this point (they rolled out that company-wide change back in 2021), but something weird has been happening with Dollar Tree prices lately that we need to talk about. And it's not last summer's buzz about some Dollar Tree items going back to $1.
Without much press coverage or fanfare, Dollar Tree has been quietly raising prices on a handful of items over the last few months — sometimes by as much as 40% - 60%. If that sounds a little shocking and overly sensational, hear me out. I visited my local Dollar Tree store to confirm every single price increase on this list, from the 1.25-liter sodas to the helium balloons. Then I did the math to calculate how much each price went up.
Even though we're big fans of Dollar Tree couponing, price increases are never good news, especially when they're talking about introducing items up to $7. Here's everything we know about the Dollar Tree price increases, plus a brief history of how their price jumps have unfolded over time.
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Latest Dollar Tree Price Increases in 2024
While the vast majority of Dollar Tree products are still $1.25, we've spotted a handful of items that are more expensive this year — sometimes by as much as 60%.
1. Helium balloons: $1.50
Helium balloons used to be $1.25 at Dollar Tree, but no more. Now, they're $1.50 each (helium included, if your store has it in stock).
How much the price went up: 20%
2. Reading glasses: $1.50
People on Reddit first noticed back in October 2023 that Dollar Tree's prices for reading glasses increased from $1.25 up to $1.50. At my store, the new price is indicated with a big red "$1.50" sticker on the display. But you can totally see that it's just covering up the old $1.25 price circle right underneath.
How much the price went up: 20%
3. Sunglasses: $1.50
Just like the reading glasses, sunglasses at Dollar Tree now cost $1.50 — even for the smaller kids' styles.
How much the price went up: 20%
4. Coca-Cola and Pepsi in 1.25L bottles: $1.75
As recently as January 2024, I paid $1.25 for Coke and Pepsi in the 1.25-liter size at Dollar Tree. But as of February, a 1.25-liter of Coke, Pepsi, Sprite, or Seagrams is up to $1.75!
At my store, they're using custom-printed signs to announce the new price, which looks a little .... unofficial. But another KCL staff member spotted the same signage at her store (in another state), and they also list the new $1.75 price on DollarTree.com.
How much the price went up: 40%
Savings tip: Dollar Tree is actually not the best place to buy brand-name 1.25-liter soda bottles. You'll pay less at Walmart, where a 1.25-liter Coke costs $1.44 and a 1.25-liter Pepsi costs $1.48. And don't even think about buying the generic soda two-liters at Dollar Tree — they're a prime example of what not to buy at Dollar Tree.
5. Ice: $2 (7-pound bag)
The exact poundage at your store may vary — mine keeps 7-pound bags in the cooler — but expect to pay $2 for ice at Dollar Tree this year.
They blame this price hike on the vendor, though, according to comments made by Dollar Tree’s chief merchandising officer in 2023.
“We were on the verge of losing the ice program at $1.25,” he said. “It was custom-made. The vendor […was…] raising the price, and we had nowhere to go."
How much the price went up: 60%
Savings tip: The cheapest places to get ice are typically the Sonic Drive-In, Burger King, Chick-fil-A, and some grocery stores. You’ll need to look to beat Dollar Tree’s $0.29 per pound price.
New Dollar Tree Items That Are More Than $1.25
It's not just price increases that we're tracking at Dollar Tree. They're also rolling out tons of new items lately that are priced higher than the usual $1.25. This is all part of their new "multi-price expansion strategy."
The main categories that will see the higher priced items are food and snacks, beverages, and pet care for now. Here are a few examples our team has spotted:
Body Armor Flash IV, $2.50
Celsius, $2.50
Dunkin' Donuts Iced Coffee, $3
Gatorade, $2.75
Gold Peak Tea, $2
Pop-Tarts, $3
Propel, $2.25
Red Bull, $2.50 - $3
Smartwater, $2
Vitamin Water, $1.75
But just because these products are at a store that has "dollar" in its name, don't be fooled — most of these are not good deals! Here's what I mean:
Red Bull (8.4 - 12 oz), $2.50 - $3
In early March, I found 8.4 oz cans of Red Bull marked for $2.50 in the drink coolers at Dollar Tree. But at that price, they're 20% - 37% more expensive than Walmart. That's because Walmart sells single 8.4 oz cans for only $2.08 each — or $1.83 per can if you buy the 12-pack for $21.98.
My Dollar Tree also has 12 oz cans of Red Bull for $3, but you can get a better deal on those at Walmart ($2.75 per can for a four-pack) or Amazon ($2.47 per can for a four-pack).
Smartwater (23.7 oz), $2
Another newcomer to the drink case at my Dollar Tree is a 23.7 oz Smartwater sport cap bottle for $2.
But compare this to $1.67 per bottle with a six-pack on Amazon and you'll see that you're paying 20% more for the same size at Dollar Tree.
History of Dollar Tree Price Hikes
The first big Dollar Tree price increase happened in 2021 - 2022.
Dollar Tree first raised their prices (from $1 to $1.25) back in late 2021, with all stores converted to the new price tag by the early part of 2022. The announcement marked the first time in 35 years the chain increased the cost of their budget-friendly items. The initial response from shoppers was lukewarm, and that’s putting it nicely.
But the company’s head honchos didn’t make this decision on a whim or even just to combat inflation.
At the time, company execs said that Dollar Tree raising prices was to help reduce volatility — so that they could keep expanding the company with remodels, new Dollar Tree Plus concept stores, and additional products.
But $3 and $5 Dollar Tree Plus items started arriving in 2019.
Dollar Tree has been low-key experimenting with even higher price points than $1.25 for a while now. As early as 2019, they were putting Dollar Tree Plus sections inside some stores, testing the waters with just how much their customers would pay. (The items in the Dollar Tree Plus section typically cost $3 – $5.)
Obviously, that test of Dollar Tree Plus went well. As of early 2023, about one in three Dollar Tree stores now carries Dollar Tree Plus products. And they continued that expansion, rolling out to 4,300 store locations by the end of 2023.
And in 2024, Dollar Tree revealed that some items will be priced up to $7 in 3,000 stores.
Yes, you read right. Dollar Tree shoppers can expect to see items priced as high as $7 in 2024 as the retailer expands their "multi-price assortment," according to Dollar Tree CEO Rick Dreiling on a March 13 earnings call.
Dreiling says that customers will soon find "$5 bags of dog food next to our traditional $1.25 pet treats and toys, and our $3 bags of candy will be found in the candy aisle."
While it's not clear exactly what products will cost $7, Dollar Tree plans to add a variety of food and snacks, beverages, pet care, and personal care to their future lineup, and that's where you may find those higher price points mixed in with $1.25 items.
Beyond 2024, they're considering going up to $10 on some items.
On their March 13 earnings call, Dollar Tree CEO Rick Dreiling gave an update on their $10 target price point, saying, "We continue to believe in the $10 target that we announced ... and we're continuing to march toward that goal."
But for now, "the path is to get to $7 in 2024, and we're intently focused on that," he said. So don't be surprised if this is just the start of a price trend at Dollar Tree.
Savings tip: Use coupons at Dollar Tree to drop prices lower.
Despite the price increases, the Dollar Tree coupon policy hasn’t changed. In-store Dollar Tree coupons aren’t really a thing since their prices are so low to begin with, but they’ve long accepted most manufacturer coupons.
Note: While you can use coupons worth more than the product itself, Dollar Tree will just adjust the amount down, so don’t expect any moneymakers.
Related: Check out all the best Dollar Tree coupons and deals we're finding this week.
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