world

Target to lower prices on basic goods in response to inflation

Font size+Author:Earthly Exploits news portalSource:business2024-05-21 07:34:23I 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
  • Hollywood star Shia LaBeouf is spotted on the streets of Gavin and Stacey's hometown Barry

    Hollywood star Shia LaBeouf is spotted on the streets of Gavin and Stacey's hometown Barry

    2024-05-21 07:07

  • COP28 deal 'significant step forward', Climate Change Minister says

    COP28 deal 'significant step forward', Climate Change Minister says

    2024-05-21 06:34

  • Trump to stand trial on 25 March in New York criminal hush money case

    Trump to stand trial on 25 March in New York criminal hush money case

    2024-05-21 06:24

  • EDITORIAL: Future of sports in Japan key to JOC review of Sapporo debacle

    EDITORIAL: Future of sports in Japan key to JOC review of Sapporo debacle

    2024-05-21 06:04

Netizen comments