Target Says It Is Dropping Prices On 5,000 Consumer Basics, Like Diapers

Target has announced that it will cut prices on thousands of consumer basics this summer, from diapers to milk, as inflation continues to cut into household budgets and Americans pay closer attention to their spending.

The price cuts, which have already been applied to 1,500 items, will eventually include 5,000 food, drink and essential household goods. This move is part of a larger trend of retailers catering to customers who are struggling with higher prices for groceries, despite inflation beginning to cool.

Many customers have switched to private label brands sold by Target and other 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.

Target is aware of the spending pullback by shoppers and reported its first annual decline in sales in seven years in March. Inflation has been unexpectedly high in the first three months of this year, despite steadily dropping in the second half of 2023. The latest inflation reading released last week showed that prices had begun to retreat again.

Target said that the lower prices will roll out over the summer on national brands and its own house brands. The company said that “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.”

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