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. |
'And so it begins': Inside Parliament during the uneasy transition of governmentIsraeli hostages' relatives arrested at protest as Gaza talks break downMan, woman rescued after getting trapped for 10 hours at Australia's Jenolan CavesNZ missing out, lawyers say as visas for wealthy investors plummetUS court blocks strict new immigration law in TexasUS call at UN for Gaza truce linked to hostages blockedCoronavirus: People with blood type A 'more vulnerable' to COVIDVictorian miner killed in Ballarat Gold Mine rockfall as investigation continuesScientists find 'devastating' coral bleaching in Great Barrier Reef's far northSecond man accused of Ellerslie murder named