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Target to lower prices on thousands of basic items as inflation sends customers scrounging for deals (apnews.com)

submitted 5 months ago by [email protected] to c/[email protected]

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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.

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[–] [email protected] 10 points 5 months ago

sorta my thoughts to. So you could have sold them lower the whole time. Surprise surprise. people buy less as prices rised and prioritize essentials. Banner times for purveyers of food and shelter.