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
Shooting injures 2 at Missouri high school graduation ceremony
CAPE GIRARDEAU, Mo. (AP) — Two people were injured when gunfire broke out during a high school gradu2024-05-21Beijing slams Washington for spreading false info
Beijing hit back at Washington's slandering of China by spreading disinformation on Wednesday, sayin2024-05-21Georgia may limit farm purchases by China 'agent'
The Georgia House of Representatives has passed and sent to the state Senate a bill that would ban a2024-05-21Truce remains elusive in Gaza as talks fall flat
The latest round of contentious cease-fire talks in Qatar ended without a deal, even as Israel is ac2024-05-21Jon Wysocki dead at 53: Staind drummer passes away
The music world is in mourning this Sunday, with word that original Staind drummer Jon Wysocki passi2024-05-21France raises terror level after Moscow shooting
France fears it could be a target for terrorists looking to replicate Friday's concert hall attack i2024-05-21
atest comment