Dollar Tree Is Opening 650 New Stores (Plus 11 Other Amazing Facts About the Retailer)

MANAGE MONEY - SHOPPING
Discover Dollar Tree's explosive growth and how it's reshaping retail.
Updated Feb. 21, 2024
Fact checked
A Dollar Tree storefront

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The economy may be headed for a possible recession, but Dollar Tree appears to be doing just fine.

The chain plans to expand its footprint in 2023. And that's not the only surprising fact about the retailer.

Check out these cool and interesting facts about the popular discount dollar chain that helps you keep more money in your wallet.

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650 new stores will open in 2023

Refrina/Adobe A Dollar Tree store

At a time when many companies are downsizing, this dollar-store chain is expanding. It has plans for 650 new stores in 2023, topping the 455 stores it opened in 2022.

Most of the stores will arrive in the latter half of the year. News reports say Dollar Tree’s customer base is growing, as many middle-class and even some upper-end shoppers are watching their wallets due to inflation.

1,000 stores will undergo renovation

aside2016 _/Adobe Woman choosing frozen food

While this fact doesn’t sound particularly exciting to consumers, the remodeling will allow Dollar Tree to install fridges and freezers to allow for more food products.

These perishable items — such as meat, ice cream, and pizza — will come at higher prices of $3 to $5.

Dollar Tree began as a Ben Franklin store in Norfolk, Virginia

Ascannio/Adobe A couple of 100 dollar bills

Dollar Tree’s journey to fame started as a Ben Franklin variety store owned by K.R. Perry in Norfolk, Virginia, in 1953.

The store’s name was a tribute to the famous quote often attributed to Ben Franklin: “A penny saved is a penny earned.” (Franklin never said those words, although he did write something similar.)

The store was rebranded several times before the leadership team spun off a discount store called Only $1.00 in 1986. That store became Dollar Tree in 1994.

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Dollar Tree has gobbled up multiple competing dollar stores

Bill/Adobe dollar tree store

The 1990s and 2000s were busy decades for the company, as Dollar Tree acquired several dollar-store competitors. By 2014, its store count sat at 5,000.

In 2015, Dollar Tree bought the Family Dollar chain. The acquisition was completed on July 6 of that year. Dollar Tree bought the discount retail chain for $8.5 billion.

The company has combo Family Dollar/Dollar Tree stores

Syda Productions/Adobe family with food in shopping cart at grocery store

Fixed-price dollar store or large-inventory discount chain? Why choose?

Dollar Tree is introducing stores that combine both brands to reach a broader range of customers.

This is especially important in rural areas with limited shopping choices, giving shoppers more items at different price points.

The chain now has more than 16,000 stores

Refrina/Adobe dollar tree store sign

Dollar Tree now has more than 16,000 stores. For perspective, Walmart operates 4,684 stores in the U.S.

There are Dollar Tree and/or Family Dollar stores in all 48 contiguous U.S. states and five Canadian provinces.

Items no longer cost just $1

Asier/Adobe A woman with money

Sadly, the era of true dollar stores is fading into history: Dollar Tree has changed its pricing from $1 to $1.25.

Dollar Tree had to discontinue several popular items — particularly packaged foods and household essentials — because it could no longer afford to keep them at $1.

The decision to raise the price by a quarter allows Dollar Tree to offer a wider variety of items that would have been too expensive to carry previously.

Dollar Tree doesn’t accept returns

auremar/Adobe A person buying an item

Big-box retailers like Amazon and Kohl’s have forgiving return policies. On the other hand, Dollar Tree offers exchanges only.

The retailer will correct any issues with nonfunctional or damaged items, but all sales at Dollar Tree are final.

You can buy items in bulk online

dennizn/Adobe Dollar Tree shop online signage

Dollar Tree allows you to buy items online in bulk and pick them up in the store. Most items still have the $1.25 price tag and require you to meet a minimum order threshold.

Whether you’re planning a party or wedding or just stocking up on cheap food or cleaning supplies, Dollar Tree bulk orders can be helpful.

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Dollar Tree is adopting environmentally friendly policies

adam121/Adobe money tree in pot

A scathing 2015 study by the Campaign for Healthier Solutions and HealthyStuff.org found that 81% of products tested in dollar stores — which included both Dollar Tree and Family Dollar — contained at least one chemical above levels of concern.

Dollar Tree has adopted more environmentally responsible commitments since 2020. For example, new stores contain appliances, lighting, and glass designed to lower Dollar Tree’s carbon footprint.

The retailer’s chemical policy bans a list of nearly two dozen intentionally added chemicals.

You can save even more by using manufacturer’s coupons

GVictoria/Adobe discount coupons scattered on white table

Dollar Tree accepts manufacturer coupons, but you must follow a few rules to use them.

They only allow coupons for in-store purchases, and they must be unaltered coupons from the manufacturer. Only four of the same coupon can be used per day, and only one coupon per item.

Bottom line

tuastockphoto/Adobe Family counting money

Whatever the actual state of the economy, Dollar Tree is likely to do well.

Even in the best times, people like to save money when shopping. And in tough times, shopping at a store like Dollar Tree can help lower your financial stress.

As Dollar Tree’s footprint expands, more Americans will find opportunities to save at the retailer.

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Author Details

Jenni Sisson Jenni Sisson is a freelance writer and editor who focuses on personal finance, real estate, and entrepreneurship. She has been published in Business Insider and The Ways to Wealth. In addition to writing, Jenni hosts the Mama's Money Map podcast to help fellow stay-at-home moms on their journey to financial freedom.

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