Five Below, a popular store focusing on products for $5 and under, is undergoing a colossal change: Its price point is going up for the first time in 17 years.
No longer will the store, a bargain hunter’s dream, only sell items priced at $5 and under. Now, the store will be raising prices on certain items – including tech products and certain toys and games.
“We’ve always done everything possible to absorb cost increases,” the company said in a statement. “Recently, we had to raise prices above $5 on tech items to keep providing the products you love.”
For the toys and games priced up to $10, the company will keep them in a separate area of the store, called “Ten Below Gift Shop.” For electronics, Five Below is adding a section called “Ten Below Tech.”
But the name “Five Below” is one thing that’s not changing. The store – known for selling everything from makeup and clothes to candy – will be keeping its original name despite the change.
Most of the store’s merchandise remains at $5 and below, according to the company.