business

Target to lower prices on basic goods in response to inflation

Font size+Author:World Whispers news portalSource:style2024-05-21 08:18:37I want to comment(0)

Target plans to cut prices on thousands of consumer basics this summer, from diapers to milk, as inf

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
  • Why US Catholics are planning pilgrimages in communities across the nation

    Why US Catholics are planning pilgrimages in communities across the nation

    2024-05-21 08:11

  • Village in Hainan explores new developing model to advance rural revitalization

    Village in Hainan explores new developing model to advance rural revitalization

    2024-05-21 08:09

  • Country star Morgan Wallen is seen for the FIRST time since his arrest as he steps out with ex

    Country star Morgan Wallen is seen for the FIRST time since his arrest as he steps out with ex

    2024-05-21 07:46

  • China's procuratorate orders arrest of former supreme court judge

    China's procuratorate orders arrest of former supreme court judge

    2024-05-21 06:15

Netizen comments