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:
Related suggestion:
Holiday to spur recovery in tourismExplainer: Payment service guide for overseas visitors to ChinaChinese business group slams EU probe into trainmakerAirlines see significant recovery in bookingsChina State Shipbuilding Corp wins world's first ammoniaExpos back in business across nationIndex reflects nation's strength in AI governanceSemiconductor industry to overcome challengesXinjiang set to boost air trip businessChina launches new meteorological satellite
2.558s , 6499.015625 kb
Copyright © 2024 Powered by Target to lower prices on basic goods in response to inflation ,Global Grid news portal