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.
Strictly star Giovanni Pernice's former partner Rose Ayling
Toyota racks up booming profit, vows to invest to keep growth going
Chinese, French scholars hold cross
Yvette Fielding says her Most Haunted co
South China to experience above average rainfall in May 2024
Ashley Graham reveals her custom Swarovski crystal
'Constantly learning' Imanaga off to impressive start with the Chicago Cubs
Bella Hadid goes braless in a thigh
Chinese, French experts seek multilateral future at global governance forum