Dollar Tree opens more stores in affluent ZIP codes as prices rise
Newsy
Half of Dollar Tree’s new locations since 2019 are in wealthier ZIP codes, reflecting a shift toward higher-income shoppers, Bloomberg reports.
After beginning to carry higher-priced items, Dollar Tree is moving into more affluent neighborhoods, according to a Bloomberg analysis.
Half of the Dollar Tree locations opened since 2019 are in more affluent ZIP codes, Bloomberg reported. In December, the company said 60% of its new customers have household incomes above $100,000.
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“Today, we serve an increasingly broad spectrum of shoppers, from core value-focused households to middle- and higher-income shoppers who are making deliberate choices about how and where they spend,” CEO Mike Creedon said.
Dollar Tree now operates more than 9,000 stores, up from about 5,000 nearly a decade ago. Until the COVID-19 pandemic, most items were priced at $1. Today, prices range from $1.25 to more than $5.
