The move may be to win back shoppers who are feeling the strain of inflation and high prices.
announced on Monday that it will reduce the price of 5,000 items in their store, starting immediately. The company hopes to attract consumers back into their stores after many middle class families have tightened their belts due to rising prices and"We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more," Rick Gomez, executive vice president and chief food, essentials and beauty officer,.
While the price cuts are mostly under a dollar or so, they can add up if you’re doing all of your regular shopping there.— while household incomes have not kept pace. This has resulted in many buyers switching to more bargain-oriented stores like Aldi, Walmart, and Costco while leaving stores like Target behind.
But any way you cut it, lower prices are something to take note of — especially if you’re stocking up on summer essentials ahead of Memorial day.
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