Target plans on cutting prices on thousands of consumer basics this summer, goods ranging from diapers to milk, with more Americans paying closer attention to their spending as inflation cuts into household budgets
FILE - 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 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. “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.
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