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.
'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
Waiting for the collapse of the 'China collapse' prediction
Washington's drug slur on Beijing slammed
Number of foreign visitors to China sees significant rebound
'The Apprentice,' about a young Donald Trump, premieres in Cannes
Hezbollah praises Iranian attack on Israel
Beijing bolsters mediation efforts, seeks lasting peace
Firm career path enables Kenyan man to find feet in society
Mystery artist who erected signs comparing pothole
Three key takeaways from whirlwind China visits by global business executives
Biden says Brown v. Board of Education ruling was about more than education
Art in crisis: Thefts spark doubts over British Museum