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
Iran 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 foreig2024-05-21'Monkey Man' review: Dev Patel's film is a political allegory bathed in blood
Has there been a more satisfying actor to watch mature on screen in recent years than Dev Patel? The2024-05-21Big banks warn of uncertain year ahead after mixed financial performances in the first quarter
NEW YORK (AP) — Big banks warned of an “uncertain” year ahead after mixed financial results during t2024-05-21Got kids? Here's what to know about filing your 2023 taxes
NEW YORK (AP) — There are a few tax tips parents of children 17 and under should keep in mind before2024-05-21- The 'real-life Martha' from Baby Reindeer bombarded Sir Keir Starmer with almost 300 emails, it has2024-05-21
U.S. stocks soar above global markets, giving investors solid path for growth
NEW YORK (AP) — U.S. markets are far outpacing their global counterparts in 2024, continuing a decad2024-05-21
atest comment