Dollar Tree will raise prices to $1.25 by the end of April.
Dollar Tree will raise the prices of most items in all of its stores to $1.25 from $1 by the end of April, the company said on Tuesday, after a successful test of the new pricing strategy.
“For 35 years, Dollar Tree has managed through inflationary periods to maintain the everything-for-one-dollar philosophy,” the company said in a statement accompanying its quarterly financial statement, but it felt that now was the time to raise prices. “This decision is permanent and is not a reaction to short-term or transitory market conditions,” it added.
The dollar store giant said that the price increase, which it first announced it would test in September, will help mitigate freight and distribution costs and wage increases and will allow it to bring back some products that it was no longer able to offer at $1. It said that 91 percent of customers it had surveyed said they would continue to shop at Dollar Tree after the change.
Reference: Dollar Tree will raise prices to $1.25 by the end of April.
IKEA ‘raises prices by 50 per cent’ after Covid causes supply issues
One shopper Tweeted the company asking: “Why has certain items increased after Xmas usually they go down in price after[? ]”
A repose from IKEA UK on the social media site said: “Unfortunately, there has been a significant increase in costs across the supply chain, including in raw materials, transport and logistics. As this is still ongoing it is necessary to increase prices across many of our products.”
IKEA, which has 27 stores in the UK, said it will raise its prices by an average of ten per cent across ranges and countries. However, in some cases the jump has been considerably higher.
The Klippan two-seater sofa has risen from £199 to £229 – an increase of 15 per cent – while the price of an Alefjall office chair has jumped by more than a fifth to £279.
Its Malm desk has risen from £99 in mid-December to £150 – a rise of 52 per cent, the Daily Mail reports.
Reference: Covid impacts IKEA prices and customers aren’t happy
Globally, the pandemic caused bottlenecks in shipping networks and disrupted the flow of goods along international supply chains, which caused difficulties in restocking, and product scarcities, resulted in higher production costs. Costs have skyrocketed, and the prices of ceramic in multi-producing areas have risen collectively：
glaze material increase≈25%，
Labor cost increase≈8%，
With omicron rates soaring, it is difficult to see the supply chain recover to normal level right now, price is still in increasing trend, production capacity is restricted by outbreak pandemic, a stable supply chain can enable your normal business. Choosing WWS, your best choice of STABLE & CAPABLE manufacturer.