Oh ffs. Dollar Tree says it is now $1.25 Tree:
The company — one of America's last remaining true dollar stores — said Tuesday it will raise prices from $1 to $1.25 on the majority of its products by the first quarter of 2022. The change is a sign of the pressures low-cost retailers face holding down prices during a period of rising inflation.
I'm whistling into the wind, but I have two comments about this:
- First, Dollar Tree says this is "not a reaction to short-term or transitory market conditions."
- Second, they're right. They've been selling stuff for a dollar since 1993. Prices have nearly doubled since then and it's a miracle that they managed to keep selling stuff for a buck the entire time.
Question: Will our media report things this way? Or will they use this as a hook for "high inflation claims another victim" stories? Sadly, I suspect I know the answer.
I assume they just kept shrinking the sizes of stuff for sale, and expanded to better improve their supply chains.
They do, and for me that's the one benefit. If I want some product that I don't use much of, and so I want it in a weirdly small size that I can't find at the supermarket, I can sometimes find it at a dollar store. It's good for travel stuff, for example.
Other dollar stores raised prices this year, but that only affects poor people. Those of us with real assets and financial instruments that track with inflation have nothing to worry about.
Re Kevin's: "Question: Will our media report things this way? Or will they use this as a hook for "high inflation claims another victim"? Sadly, I suspect I know the answer."
Look at what they are doing today! This is rank propaganda.
https://www.cnn.com/2021/11/23/business/cheerios-grocery-prices-general-mills/index.html
General Mills (GIS) notified retail customers that it's raising prices in mid-January on hundreds of items across dozens of brands. They include Annie's, Progresso, Yoplait, Fruit Roll-Ups, Betty Crocker, Pillsbury, Cheerios, Cinnamon Toast Crunch, Lucky Charm's, Wheaties, Reese's Puffs, Trix and more, according to letters General Mills sent to at least one major regional wholesale supplier last week.
For some items, prices will go up by around 20% beginning next year.
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It's all lies. There is no inflation, as Kevin has repeatedly assured us this year. And even if prices are high somehow, take the advice of NBC's Stephanie Ruhle and tap into your savings. Sound advice.
Consumer Reports just did an extensive article on the various "dollar" stores: Tree, General, Family. (note: they didn't see this coming)
I'm going to trademark and copyright the "A Little More Than a Dollar Store". FWIW, Daiso -- a Japanese "dollar" store in the US -- has raised prices to $1.50.
When I worked in New York City in the 1970s, these stores started out as 69 cents stores, briefly operated as 88 cents stores, and then settled on the $1 price point.
I still miss the 99 Cents Store at Southridge Mall. Seems like only yesterday, the year 1992.
I mean, it has to only be five, maybe ten years ago...
Back in the 1930's, they were "five and dimes".
It could be that the higher inflation this year is just the " straw that broke the camels back" . But that would only mean that this was coming inevitably and this year only accelerated it a year or two. Could be that the unanticipated nature also pushed it but only marginally.
And Kevin's post reads as if he thinks that all items are one dollar which only someone who never shops there would think . Hasn't been true for years. They have all sorts of exceptions to allow some leeway on some items . But do try to keep to one dollar for most. All this does is raise the base for " standard " items . May allow more items for that though.
This was going to be a publicity hit when they did it. So also sure that doing it when inflation is in the news so can blame biden ( implicitly not directly) could be a factor in timing .
When I was 11, the Pantry Foods -- an independent convenience store by my house -- sold three hot dogs for 99 cents. By the time I was thirty, the Speedway gas station I would stop off at late after my second job, was selling one hot dog for a dollar seventy-nine.
I think it was no coincidence that I was thirty in the same year Joe Biden suffered his first midterm shellacking as VP under Obummer.