Target to lower prices on about 5,000 basic goods BIDEN BOOM BABY

[havoc00]

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 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 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 customers’ frustration with high prices. Walmart posted strong quarterly sales last week, driven by a influx of customers looking for bargains.

Target is cognizant of the pullback by shoppers due to inflation and because of the increased cost of using credit cards. The company in March reported its first annual decline in sales — 1.7% — in seven years.

Target Corp. said Monday that the lower prices will roll out over the summer on national brands and its own house brands.

“These reductions are in addition to our everyday low prices, which we routinely adjust to be competitive in the market and make sure you enjoy great value every day,” the company said in a prepared statement.

Target said customers will be able to score reduced prices on food items like milk, bread, fruits and vegetables. They'll also see price reductions on goods such as diapers and pet food.

Target is likely to offer more insight into what it thinks about customer behavior and how it's addressing any changes when it releases its quarterly financial report Wednesday.

https://abcnews.go.com/Lifestyle/wir...ends-110398551

[FAPhaggot]

What they should do is itemize their receipts with 2019 prices, and then add in a "Biden COVID tax" surcharge that brings it up to today's prices. Eg, $2 gallon of milk + $2 Biden tax.

If people saw how much money they were losing to inflation, and how it's never coming back (because deflation is a "bad" thing), they would riot.

[Polaris]

Maybe I'll have to stop by. Truth be told...I actually like Target, though I don't go that often as the nearest one is like 6-7 miles from where I currently live. I used to go way more often.

[skier!]

They can do this because it's not "inflation" it's price gouging.

There is a huge difference between the two.

[bezarker]

Acknowledging price gouging...

[sfgiants13]

Probably will become loss leaders. People will come in and buy a bunch of crap thats overpriced on top of the essentials.

[gmenfan40]

What they should do is itemize their receipts with 2019 prices, and then add in a "Biden COVID tax" surcharge that brings it up to today's prices. Eg, $2 gallon of milk + $2 Biden tax.

If people saw how much money they were losing to inflation, and how it's never coming back (because deflation is a "bad" thing), they would riot.

Target has always been a rip off, WAY before massive inflation and the USD losing 25% of its buying power since 2020. (Super Ded fkn Srs)

[tripod29]

If people saw how much money they were losing to inflation, and how it's never coming back (because deflation is a "bad" thing), they would riot.

I used to think that, but the china virus lockdowns and mask/vac mandates changed my mind. 99% of people are sheep. Srs, vry srs.

[SaviorSelfJT]

Inb4 they’re also shrinking the product sizes too. Introducing the 0.9 gallon of milk

(because deflation is a "bad" thing), they would riot.

Agreed

I want to rage punch my computer every time I see this parroted anywhere on a finance/economic forum

Textbook example of echo chamber. “Yeah inflation is bad, but deflation is worse than Satan himself, even with just 0.0001 percent deflation everyone will stop spending and hoard their money and the economy will completely collapse”

Yet there’s no examples of this ever happening and before the Gold standard the US had deflationary cycles

[Polaris]

Inb4 they’re also shrinking the product sizes too. Introducing the 0.9 gallon of milk



Agreed

I want to rage punch my computer every time I see this parroted anywhere on a finance/economic forum

Textbook example of echo chamber. “Yeah inflation is bad, but deflation is worse than Satan himself, even with just 0.0001 percent deflation everyone will stop spending and hoard their money and the economy will completely collapse”

Yet there’s no examples of this ever happening and before the Gold standard the US had deflationary cycles

It's probably true, for some things, but for chit with an inelastic demand (ie groceries)? Yeah, I don't really see how deflation of those things would be bad.

I'm not going to pretend that I'm an econ guru though (is anyone really, though?).

[SaltyDog920]

They can do this because it's not "inflation" it's price gouging.

There is a huge difference between the two.

Thank god! I was paying $.85 cents for 5oz of spinach in 2019. Now that's going to be 2.99 down from 3.29! Thanks for that 30 cent savings, Joe!

[skier!]

Not surprisingly there is a complete lack of knowledge in this thread.

This is not "inflation" and prices coming down is not "deflation"

What has been going on in the economy specifically in the last 3--3.5 years is price gouging. Companies have learned they can charge more and people will pay. Probably one of the most significant economic events in most of our lifetimes.

I remember in the last year or two there was an "egg shortage" so eggs went to $8 a dozen. People paid it. Within a month or two I remember reading how egg farms reported highest profits ever. Think about that.


There is no incentive in building cars and having them sit on lots, over hiring for fast food and charging low prices, etc. Charge the max price and keep inventories low, people will pay the price

[Polaris]

Not surprisingly there is a complete lack of knowledge in this thread.

This is not "inflation" and prices coming down is not "deflation"

What has been going on in the economy specifically in the last 3--3.5 years is price gouging. Companies have learned they can charge more and people will pay. Probably one of the most significant economic events in most of our lifetimes.

I remember in the last year or two there was an "egg shortage" so eggs went to $8 a dozen. People paid it. Within a month or two I remember reading how egg farms reported highest profits ever. Think about that.


There is no incentive in building cars and having them sit on lots, over hiring for fast food and charging low prices, etc. Charge the max price and keep inventories low, people will pay the price

I kind of doubt that it's exclusively one or the other, though I certainly do imagine that there's been quite a bit of price gouging these last several years.

[Jasonw1178]

Back in the day they called that a SALE.

Not only that but prices move up and down all of the time except since Biden got in office it has been a steady increase.

Fun fact, sales are down so product is moving slower.

[MrSchons]

Motherfukers cleaned up over the last few years and will still make bank with their 'reduced' prices

[N0stradamus]

this ad did not age well....

[SaviorSelfJT]

an econ guru though (is anyone really, though?).

They’re all frauds, they get paid to go on NPR and tell us what they are paid to tell us. Remember how they all said inflation was transitory back then? And remember how they said the silicon bank bailout wasn’t a handout?

[crupiea]

pro tip- the higher prices didnt magically appear. These stores jacked them up intentionally.

now they want to act like they are the saviors and care about us.

They are responsible for the prices to start with. Why didnt they always keep prices low if they had the ability to do so?