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.
Kosovo prepares a new draft law on renting prison cells to Denmark after the first proposal failed
New Zealand to put 'every single effort' into getting free trade deal with India
Beauty industry experts pushing for more regulation amid rise in serious injuries
Kate Hudson hits the stage to debut songs from her new album Glorious at star
Victorian miner killed in Ballarat Gold Mine rockfall as investigation continues
Cathay Pacific asks staff to take three weeks unpaid leave as coronavirus hits bottom line
Mediaworks data breach: Hackers email victims, demanding $820
Socialite Jasmine Hartin enjoys beach snuggle with electrician hunk
Poppies to be replaced as Dannevirke RSA announces it won't be putting them on graves