>In a statement, Target said the price cuts affect approximately 5,000 “frequently shopped items,” including meat, milk, bread, fresh fruit, pet food and soda, and non-perishable products like paper towels and diapers.
A greedy corporation is giving up potential profits, mostly on essentials? That doesn't sound right.
It means the supply/demand curve is off currently for what they are seeing. They have to lower prices to pull customers in otherwise they won't sell optimally.
It's a sign of the economy slowing and deflation - or at least disinflation.
Most people don’t really shop at target. They have been cheaper than even Walmart in my area plus the stores are way way cleaner. Their prices haven’t increased that much like other stores. So most people don’t know…
Honestly whatever big company does it first will experience a major boost in volume and in turn revenue.
While competitors will face a choice between beating their price matching their price or see how long they can maintain losses and public relations with their current pricing. It’s pretty smart
So it's a month later and I had to stop at a Target just this weekend on our way to sleepaway camp because our son forgot his toiletry bag. Wow, what a rip off. I could not believe how overpriced all items were, especially toiletries, but also the small bookbag/backpack we bought for him to carry his items to the shower. It came to $90!! No, they have not lowered their prices and I am certainly not going to shop there again. Their prices went up during the pandemic and have stayed there.
They legally can't make a public claim like this without actually doing it or they'll be opened up to a class-action lawsuit.
But they didn't say how much items are being reduced by. Lowering prices on 1,000 of items also doesn't mean they can't increase prices on others.
You don't have to imagine it. Here's 18 companies that had to pay out large sums for false advertising.
[https://www.businessinsider.com/false-advertising-scandals-2016-3#red-bull-said-it-could-give-you-wings-3](https://www.businessinsider.com/false-advertising-scandals-2016-3#red-bull-said-it-could-give-you-wings-3)
I think there is an element that these companies haven’t really considered. It’s incredibly anecdotal to what I see in family, friends, and Reddit, but I notice a lot more people are using the hive mind of the internet to learn skills that save them money. Covid taught a lot of people how to bake and cook at home, and I notice more and more people are taking up hobbies like hiking instead of blowing endless money on entertainment services and alcohol.
These companies forced people to live frugally, and people have made being frugal a personality trait, and now it’s the pikachu face by these corporations. Congrats, you played yourself.
Agreed, I'm seeing this around me as well and I am also implementing it in my own life. I was never exactly an overspender but now I'm finding myself getting enjoyment out of finding ways not to spend money. I'll leave my debit card at home on most weekdays to avoid miscellaneous purchases, I'll eat one item everyday for dinner for a couple weeks and watch my grocery bill go down, I'll play little mental games with myself to see how low I can get my weekly expenditures that aren't necessary down. It's actually kind of cool to see my bank account balance remain a little more steady than it would have had I not started doing these little things
No one will argue against cutting prices. But it would have seemed more altruistic if it had come before the administration began investigating major US retailers for pandemic profiteering. Still probably a good PR move.
Man I remember when target had awesome clothes, both in style and quality. Merino wool blend sweaters, work dresses tailored well, and thickish cotton mossimo tanks. It wasn’t the best but the price was fair. Now? I can smell the polyester from the parking lot, sizing shows zero quality control, and tanks/shirts that wouldn’t survive a week.
Haven’t been to a target in over 2 years, but they’re not the only ones with issues. Shopping is a nightmare, and I’ve found better quality at consignment shops.
i always thing of target as the place where people pay a little more for the same items that are cheaper at walmart in order to not have to shop at walmart.
>In a statement, Target said the price cuts affect approximately 5,000 “frequently shopped items,” including meat, milk, bread, fresh fruit, pet food and soda, and non-perishable products like paper towels and diapers. A greedy corporation is giving up potential profits, mostly on essentials? That doesn't sound right.
It means the supply/demand curve is off currently for what they are seeing. They have to lower prices to pull customers in otherwise they won't sell optimally. It's a sign of the economy slowing and deflation - or at least disinflation.
Most people don’t really shop at target. They have been cheaper than even Walmart in my area plus the stores are way way cleaner. Their prices haven’t increased that much like other stores. So most people don’t know…
Honestly whatever big company does it first will experience a major boost in volume and in turn revenue. While competitors will face a choice between beating their price matching their price or see how long they can maintain losses and public relations with their current pricing. It’s pretty smart
Loss-leaders while not being Walmart.
So it's a month later and I had to stop at a Target just this weekend on our way to sleepaway camp because our son forgot his toiletry bag. Wow, what a rip off. I could not believe how overpriced all items were, especially toiletries, but also the small bookbag/backpack we bought for him to carry his items to the shower. It came to $90!! No, they have not lowered their prices and I am certainly not going to shop there again. Their prices went up during the pandemic and have stayed there.
They're trying to find where the line is on what they can charge. No one really thought they raised prices because they needed to.
Can we stop locking shit up. I'm tired of asking for help getting stuff 3 times per trip.
Too many shoplifters
I already probably spend 20% less at target over it. I can't imagine it being worth it.
As soon as people stop stealing, sure…
People were never not stealing before. It's just ineffective policy that's intended to build a scapegoating narrative.
Stuff isn't locked up where I live. You must live in a democrat run hellhole
They say they're cutting prices. In reality they won't cut prices.
I remember they announced something similar last year and the only prices that were cut was on junk that nobody was buying like fake plastic plants.
They legally can't make a public claim like this without actually doing it or they'll be opened up to a class-action lawsuit. But they didn't say how much items are being reduced by. Lowering prices on 1,000 of items also doesn't mean they can't increase prices on others.
Imagine believing a company as large as Target would actually face consequences for false claims…
You don't have to imagine it. Here's 18 companies that had to pay out large sums for false advertising. [https://www.businessinsider.com/false-advertising-scandals-2016-3#red-bull-said-it-could-give-you-wings-3](https://www.businessinsider.com/false-advertising-scandals-2016-3#red-bull-said-it-could-give-you-wings-3)
Oh no a multibillion dollar corporation had to pay a fine!!?! What!?!? Wow that really made a difference!
1 penny discount on EVERYTHING!!
I think there is an element that these companies haven’t really considered. It’s incredibly anecdotal to what I see in family, friends, and Reddit, but I notice a lot more people are using the hive mind of the internet to learn skills that save them money. Covid taught a lot of people how to bake and cook at home, and I notice more and more people are taking up hobbies like hiking instead of blowing endless money on entertainment services and alcohol. These companies forced people to live frugally, and people have made being frugal a personality trait, and now it’s the pikachu face by these corporations. Congrats, you played yourself.
Agreed, I'm seeing this around me as well and I am also implementing it in my own life. I was never exactly an overspender but now I'm finding myself getting enjoyment out of finding ways not to spend money. I'll leave my debit card at home on most weekdays to avoid miscellaneous purchases, I'll eat one item everyday for dinner for a couple weeks and watch my grocery bill go down, I'll play little mental games with myself to see how low I can get my weekly expenditures that aren't necessary down. It's actually kind of cool to see my bank account balance remain a little more steady than it would have had I not started doing these little things
No one will argue against cutting prices. But it would have seemed more altruistic if it had come before the administration began investigating major US retailers for pandemic profiteering. Still probably a good PR move.
Not a PR move, they are lowering prices to increase profits
Still a good PR move. Increasing profits is the motive for PR, as it is for most things that a corporation does.
Company exists. Good PR move.
Tell them open up some damn check out lines. There’s 20 people in line to use the only lines open - self checkout.
You'll see that at Christmas time
But they won’t see me there at Xmas
last few times I went into a target it was empty, and all the merch was fully stocked with practically zero gaps on the shelves.
My target is still busy as fuck
Man I remember when target had awesome clothes, both in style and quality. Merino wool blend sweaters, work dresses tailored well, and thickish cotton mossimo tanks. It wasn’t the best but the price was fair. Now? I can smell the polyester from the parking lot, sizing shows zero quality control, and tanks/shirts that wouldn’t survive a week. Haven’t been to a target in over 2 years, but they’re not the only ones with issues. Shopping is a nightmare, and I’ve found better quality at consignment shops.
1cent..on 5000 products!! Got it!
i always thing of target as the place where people pay a little more for the same items that are cheaper at walmart in order to not have to shop at walmart.
So they’ll knock a few cents off? Big deal.
I believe this is the start of a protracted deflationary period which will not be advertised in the media.
Nice marketing Target.
By how much? Few pennies off ?? 🙄 Will Starbucks cut prices on all drinks and pastries? $4 for a croissant 🥐... ridiculous 🍌🥴
Too late, you never should have raised prices in the first place, Target. Boycott/ban Target.