The multi-price point store, Dollar Tree, has bid goodbye to selling eggs in its across-the-country stores for the foreseeable future. The move comes as a result of surging egg prices that have made the staple pretty unaffordable for both customers and the chain itself.
Being one of the most popular affordable stores in the country, Dollar Tree has long been offering various groceries and other products around the price point of $1 and more. However, inflationary hikes in the market have forced the chain to take some major cost-cutting steps and the discontinuation of eggs happens to be one of them.
Earlier in 2022, the chain had also enacted a hike of over 25% on most of its products, from $1 to $1.25 and more, to keep up with the inflationary hikes in the market. Other products, including frozen and ready-to-eat meals, are also mostly being sold at hiked prices of over $3 to $5.
While talking to the press, a spokesperson for Dollar Tree said that they will only be able to get eggs back on store shelves by the end of the year, or by fall. Meanwhile, customers can still get the staple item from the chain's sister store Family Dollar, at comparatively affordable rates.
Inflationary hikes in egg prices of as much as over 60% have forced Dollar Tree to drop them off its store shelves
Customers all across the country have been facing massive hikes in grocery prices as global inflation continues to affect the global market. Factors like Russia-Ukraine War, Avian Flu, and supply chain problems, amongst others, have been affecting the prices of multiple everyday use groceries, including eggs.
As per the St. Louis FRED, egg prices have seen an estimated hike of over 60% since the last fall. While one could get a dozen eggs for $1.46 in January 2020, the same amount of eggs can now cost as much as $7 depending on the store and/or location.
With all the factors affecting egg prices, Dollar Tree was left with no option other than choosing to stop selling eggs or to sell them in cartons of three or four. As such, the chain decided to simply stop selling them for the time being as cutting back on the pack size or increasing the price could have both been difficult for the multi-price point store chain.
As global inflation starts to fall under control, the prices of multiple items have also started to go down. However, the price of eggs and other everyday grocery products are still at an overall high. Prices for multiple grocery products, including eggs and meat, are expected to be comparatively affordable by the end of the year.
Founded in 1953 as K&K 5&10 and later named Only $1.00, Dollar Tree is an American multi-price-point chain of discount variety stores. Headquartered in Chesapeake, Virginia, it has over 15,115 stores throughout the 48 U.S. states and Canada.