News

23281 readers

4007 users here now

Welcome to the News community!

Rules:

1. Be civil

Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.

2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.

Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.

3. No bots, spam or self-promotion.

Only approved bots, which follow the guidelines for bots set by the instance, are allowed.

4. Post titles should be the same as the article used as source.

Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.

5. Only recent news is allowed.

Posts must be news from the most recent 30 days.

6. All posts must be news articles.

No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.

7. No duplicate posts.

If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.

8. Misinformation is prohibited.

Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.

9. No link shorteners.

The auto mod will contact you if a link shortener is detected, please delete your post if they are right.

10. Don't copy entire article in your post body

For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago

MODERATORS

[email protected]

311

Target to lower prices on thousands of basic items as inflation sends customers scrounging for deals (apnews.com)

submitted 5 months ago by [email protected] to c/[email protected]

37 comments fedilink hide all child comments

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 eventually 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 of them 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 customer frustration with higher prices. Walmart posted strong quarterly sales last week driven by a influx of customers, including households with incomes of more than $100,000, looking for bargains.

you are viewing a single comment's thread
view the rest of the comments

[–] [email protected] 6 points 5 months ago

This is probably partially true but just to note that there’s a lot of factors at play here. Since prices have risen on all items, what is more likely is that the prices are due to manufacturing companies raising them.

We know that’s true from the government reports, so what target is doing here makes sense. Their volume has become low enough that their margin isn’t making them money. Which is why they increased prices in the first place to try and maintain that margin. Now they want to increase volume on their own products which have higher margin (they don’t have to share) so the prices are guaranteed to be lower.

This is what we expect of late stage capitalism where most of the grocery store is effectively owned by a small handful of companies (J&J,P&G,General Mills, Tyson, etc.) and the only people able to compete with them are the grocery stores themselves.

The budget options still aren’t there to help you, but these options will represent the bottom of the market. And since they rely on the consumer choosing the value brand instead, they need to have volume of sales to work. And as we know, that means these products will always be nearer to the cheapest possible price.

Last note is important: if you observe that even the discount brand prices are beginning to become unaffordable for you and you represent an average consumer, your economy is already failing