Target To Slash Prices On About 5,000 Basic Goods

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, Michelle Chapman and Anne D’Innocenzio reported for the Associated Press (AP).

Target and other retailers are increasingly catering to customers who are struggling with higher prices for groceries, though inflation has begun to cool. I Photo: Kevin Dooley Flickr

The price cuts, already applied to 1,500 items, will 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 have switched to private label brands sold by Target and other 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 US next month to counter slowing sales and customers’ frustration with high prices. Walmart posted strong quarterly sales last week, driven by an influx of customers looking for bargains.