Target to lower prices on basic goods in response to inflation
Target plans to cut prices on thousands of consumer basics this summer, from diapers to milk, as inflation cuts into household budgets and more Americans pay closer attention to their spending.
The price cuts, already applied to 1,500 items, will eventually include 5,000 food, drink and essential household goods. Target and other retailers are increasingly catering to customers who are struggling with higher prices for groceries, though inflation has begun to cool. Many of them have switched to private label brands sold by Target and others big retailers, which are typically less expensive than well-known brands.
Target launched one such collection in January called Dealworthy which includes nearly 400 basic items, ranging from clothing to electronics, that can cost less than $1, with most items under $10.
Last week, McDonald’s said that it was planning to introduce a $5 meal deal in the U.S. next month to counter slowing sales and customer frustration with higher prices. Walmart posted strong quarterly sales last week driven by a influx of customers, including households with incomes of more than $100,000, looking for bargains.
Related articles
Insider Q&A: CIA's chief technologist's cautious embrace of generative AI
Knowledge advantage can save lives, win wars and avert disaster. At the Central Intelligence Agency,2024-05-21- Auckland Council's long-term plan is open for public feedback until the end of the month. Photo: Loc2024-05-21
Live: Heavy rain to pummel country's south, orange warnings in place
Rain and strong wind is starting to pick up around Fiordland and Westland as locals are urged to rev2024-05-21Five arrested in Taupō on Tuesday after group brawl at Richmond shops
Five men were arrested in Taupō on Tuesday after a group brawl. Photo: RNZ / Cole Eastham-Farrelly2024-05-21Iran helicopter crash that killed President Raisi could reverberate across the Middle East
JERUSALEM (AP) — The helicopter crash in which Iranian President Ebrahim Raisi, the country’s foreig2024-05-21Man arrested as hostage situation in Dutch nightclub ends
By Aoife Walsh, BBCDutch poolice barrier tapes at Cafe Petticoat in Ede. Photo: ANP via AFP2024-05-21
atest comment