The move comes as inflation sends customers scrounging for deals.
Mon, May 20th 2024 at 8:31 AMFILE - A worker collects shopping carts in the parking lot of a Target store June 9, 2021, in Highlands Ranch, Colo. Target says it's cutting prices on about 5,000 food, beverage and household essential items, becoming the latest company to shift its pricing strategy as consumers pay closer attention to how they spend their money amid inflation concerns.
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. 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.
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