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
Justin Timberlake set to bring his The Forget Tomorrow World Tour to Australia in 2025
Justin Timberlake is set to bring his The Forget Tomorrow World Tour to Australia next year.Daily Ma2024-05-21Tourism industry hits record highs over Spring Festival holiday
Travel: Festive celebrations, shows organized overseasChina's tourism market showed a better-than-ex2024-05-21Temperature monitoring implemented to reduce loss of grain in N China's Tianjin
A staff worker inspects the warehouse at Dongli branch of Central Grain Reserve Tianjin Dongli Direc2024-05-21Mainland a hot holiday attraction for HK tourists
The just-concluded Spring Festival holiday witnessed a fivefold increase in consumption from Hong Ko2024-05-21'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
CHICAGO (AP) — The road for Shota Imanaga from Japan to the major leagues included at least one shar2024-05-21China prepares to launch Tianzhou
Photo taken on May 16, 2021 shows the combination of the Tianzhou-2 cargo spacecraft and the Long Ma2024-05-21
atest comment