Shopper calls on Dollar Tree & Five Below to 'change names' over rising costs (2024)

A SHOPPER has lamented the price rises seen at supposedly more budget-friendlier stores.

Americans across the country have felt their wallets squeezed post-pandemic as retailers jacked up prices as they scrambled to deal with rising costs.

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Major chains such as Walmart have launched labels designed to cater to shoppers on a budget, but chiefs at discount stores have announced price hikes.

Dollar Tree bosses recently announced a hike that will see hundreds of items priced between $1.50 and $7.

Price hikes have sparked frustration – with some shoppers even questioning the purpose of some retailers.

“At a certain point, shouldn’t Dollar Tree, Five Below, and the like be forced to change their names?” one customer fumed on X, formerly Twitter.

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“I certainly couldn’t open a store called Rufio’s Everything Free Emporium and have price tags with the MSRP on all the products without getting in trouble.”

Dollar Tree was founded in 1986 but dozens of shoppers are now calling for the chain's name to change.

“May as well change their name,” a disgruntled customer said.

“Because the dollar store no longer exists. Kinda like five below, they should be five above now [sic].”

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Shoppers have claimed there are no items advertised for a dollar anymore.

One customer joked that the chain should be known as Seven Dollar Tree.

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Shoppers have accepted that the hike is just a sign of the times.

Despite the price rise, Rick Dreiling, Dollar Tree’s CEO, said the vast majority of items would stay at $1.25.

The exec also announced that $5 items would be found next to products on sale for $1.25.

Last year, Dollar Tree bosses announced the price of goods would be capped at $5.

How to cut the cost of your grocery shop

BELOW are some tips on how to reduce the amount you spend on groceries.

  • Write yourself a list -Only buy items that you need. If it isn't on your list, don't put it in the trolley
  • Create a budget- Work out a weekly budget for your food shopping
  • Never shop hungry- You are far more likely to buy more food if your tummy is rumbling
  • Don't buy pre-chopped veggies or fruit- The extra they'll charge for chopping can be eye watering
  • Use social media- Follow your favourite retailers to find out about the latest deals
  • Be disloyal- You may want to go to different stores to find the best bargains
  • Check the small print- It’s always worth checking the price per kg/lb/litre when comparing offers so you’re making a like for like decision as a bigger box won’t necessarily mean you get more
  • Use your loyalty cards-Don’t be afraid to sign up to them all. They all work slightly differently - work out what bonus suits you better and remember to trade in your points for additional rewards

Dollar Tree is set to take over the leases of more than 170 99CentsOnly stores.

Fellow discount chain 99CentsOnly filed for bankruptcy in April.

Meanwhile, bosses at Five Below admitted the chain suffered a poor performance in the first quarter of the year.

The retailer experienced a 2.3% net sales dip compared to the first quarter of 2023, per a company press release.

But they stressed that price rises would be the last resort.

Joel D. Anderson, the CEO and president of the chain, stressed the brand is constantly looking for ways how to give shoppers value for money.

“Five Below remains an extreme value, high growth retailer,” he said.

Chiefs expected the company to record net sales between $3.79 billion and $3.87 billion for the year.

Bosses have plans to open more than 200 stores this year.

HELPING HAND

Chiefs at Target and Walmart have announced price cuts and launched new labels.

In April, Walmart announced its new bettergoods food label and shoppers can score bargains on an array of products.

Most items under the bettergoods banner are on sale for just $5.

And the product prices range from less than $2 to $15.

Shoppers can pick up pasta for less than $2 and plant-based cheeses for under $4.

In May, Target bosses announced they were cutting prices on thousands of goods.

“We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more,"Rick Gomez, the chain’s executive vice president, said in a statement.

The discounts were announced before the Memorial Day weekend, providing a welcome boost for budget-conscious shoppers.

Aldi chiefs also announced price cuts in the run-up to the summer season.

Bosses have said they were always looking for ways that can help shoppers keep hard-earned cash in their pockets.

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Barbecue staples are among the products cut ahead of families and friends gathering for cookouts.

"We don't want food prices to hold people back from getting together with friends and family or spending time outdoors this season,” Dave Rinaldo, the president of Aldi US, told ABC News.

Shopper calls on Dollar Tree & Five Below to 'change names' over rising costs (2024)
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