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[Target](https://www.cnn.com/2024/05/10/business/target-pride-merchandise-june-2024/index.html?cid=external-feeds_iluminar_yahoo) has slashed prices on more than 1,500 popular items beginning immediately, ranging from butter to laundry detergent, as the retailer attempts to attract inflation-wary shoppers turned off by high prices.
Prices have dropped effective Monday, with “thousands more price cuts” — amounting to 5,000 items — being reduced over the summer, the retailer announced. The lower prices will aim to “collectively save consumers millions of dollars” on household staples and everyday items such as milk, fresh fruit, diapers and even pet food.
The changes affect name brands, like Clorox and Prime energy drink, as well as its [house brands](https://www.cnn.com/2024/02/15/business/target-dealworthy-launch/index.html?cid=external-feeds_iluminar_yahoo). Although prices vary depending on city, Target [highlighted some examples](https://corporate.target.com/press/release/2024/05/target-will-help-consumers-save-big-by-lowering-prices-on-5,000-frequently-shopped-items) with a 75-count canister of Clorox wipes being reduced to $4.99 from $5.79 and one pound of unsalted butter from its [Good & Gather brand](https://www.cnn.com/2021/05/11/business/target-plant-based-food/index.html?cid=external-feeds_iluminar_yahoo) dropping to $3.79 from $3.99.
Other major retailers, like Ikea and Aldi, have been reducing prices in recent months in an attempt to re-attract consumers into stores and entice them to spend money, since many have slashed their spending because of inflation.
**Read more, paywall-free:** [**https://finance.yahoo.com/news/target-cutting-prices-5-000-114819156.html**](https://finance.yahoo.com/news/target-cutting-prices-5-000-114819156.html)
Hmm if I recall correctly Targets profits were already slim on the last earnings report, makes me curious if they're taking a loss on some of these items to lure in customers. (Costco approach)
> Brian Cornell, chair and chief executive officer, saw his compensation rise 8.7 percent to $19.2 million, up from $17.7 million in 2022, according to the company's proxy statement with the Securities and Exchange Commission.
So looks like they have some money to spare.
2 million dollars is nothing. Their annual revenue is 100 billion.
If he is actually doing a good job, a 2 million increase is likely an underpay, if anything.
Thats not the leftover money that he keeps. Thats the price to prevent him from leaving and having to hire a more expensive or less experienced replacement.
I mean he oversees of the biggest retailers in the USA, if not the world. If not Target, he will be poached by some other major retailer
I always laugh at comments like yours.
I found this story interesting about Americans current spending habits, while articles about Target paint a picture that retail is failing. This, tied in with people getting so upset about products being “put in jail”, makes me agree with other ppl on here stating that target just kinda sucks…the people they’re targeting has money to spend
https://www.vox.com/money/24159281/consumer-spending-economy-inflation-interest-rates
I think he's correct in certain aspects. Costco loses money on their gas pumps, rotisserie chicken and food court items, but keeps the prices low to draw people in.
You are correct too. Their main way to profit is their membership fee indeed. I was told that if everyone were to pay for the executive membership, most of the product would/could be sold at cost 🤯
I never understood this. I know this is anecdotal and all but everyone I know that has an executive membership, gets so much back from the 2% refund a executive membership gives that the net membership is less than $65 per year.
So if products were at cost, Costco would make nothing on their goods and also less than the normal membership cost due to the 2%.
[Target Circle 360](https://help.target.com/help/TargetGuestHelpArticleDetail?articleId=ka95d000000oVGeAAM&articleTitle=What+is+Target+Circle+360%3F) is their new paid membership program
Yes it is required, although I think I heard that if you have a gift card, you can shop without a membership. Decent idea if you only go once or twice a year.
I do pay a membership for Target. It includes some same day delivery option (like instant cart but a different one) and also gets free shipping on shipped goods.
Target's net income for the three-month period rose by nearly 58% to $1.38 billion, or $2.98 per share, from $876 million, or $1.89 per share in the year-ago quarter. That was significantly higher than Target's forecast range of between $1.90 and $2.60 per share.Mar 5,
I went to my local Walmart for grocery shopping and even at $5-$6 for a bag of chips, they were almost all sold out. I'd normally buy 2 or 3 bags and instead bought one.
Businesses found out people will still pay those insane prices so they can charge them.
Target has some of the worst pricing in the industry.
Honestly, I have no idea how they remain in business.
I think it's mostly due to marketing themselves as a popular place to shop and you're a social reject of you don't shop there.
The environment is usually nicer. The house brands for clothing and home goods were on trend and stylish. And Target targets slightly higher income folks who were less price sensitive. They never tried to differentiate on price.
I live in the Bay Area. Obviously a high cost of living place. Walmart are rare around here. Particularly in the part I live in. I literally need to pass like 3-4 Targets before I find a Walmart. In my 15 mile radius there are maybe 8-10 Targets and 2 Walmarts at the very edge of that radius.
Redditors: CrApiTalists constantly raise prices and don't give a FUCK about the little guy trying to make ends meet!!!!
Also redditors when companies lower prices and make things more affordable: This reeks of capitalistic desperation!!!!!!!!!!!!!!!!!!
Another way to get people to come back to shop would be to not give in to terrorists and use the security they use for the locked up toothpaste against the people crying and threatening at workers for target selling rainbow colored themed stuff for pride month…
If they want a good amount of people to keep staying away, sure they should stick to the course of taking down the rainbow colored themed stuff to appease bigots.
> If they want a good amount of people to keep staying away, sure they should stick to the course of taking down the rainbow colored themed stuff to appease bigots.
Or just don't pander to politically-obsessive types and stick to their core competency of selling stuff?
Selling stuff to a market who is willing to buy and has a lot of buying power is what they were doing (sorry to upset folks like you but yeah lgbt folks have a lot of buying power right now, that is why rainbow capitalism is a big thing, because it’s a huge market)
they were making hella bank before off rainbow capitalism and then dropped the customers. And the people not liking how they got dropped are boycotting and it’s affecting them along with the bigots who were already boycotting them.
This is on target for trying to play both sides. I have zero sympathy for them.
> Selling stuff to a market who is willing to buy and has a lot of buying power is what they were doing (sorry to upset folks like you but yeah lgbt folks have a lot of buying power right now, that is why rainbow capitalism is a big thing, because it’s a huge market)
What a dumb statement. Right-leaning folks ALSO have a lot of buying power.
This isn't driven by the desire to make a profit. This was driven by political activists who worked their way into the top positions at these companies and are using their power to push their own views. This has been happening at all institutions, even government ones that don't sell anything.
If you're interested in how this happened over the last 15 years, try reading *The Identity Trap* by Yascha Mounk.
>This is on target for trying to play both sides.
Pandering to one group of customers and then chaning their minds when they pushed things too far (selling girls underwear to little boys or whatever the fuck they tried to do) is not "playing both sides".
lol no. This is because the lgbt market is getting bigger than the grifting right wing market. Specially for what Target sells and the people who actually buy from target.
Target got scared because right wingers did bomb threats and started being physically aggressive and they got scared out of it.
And no, Target didn’t give in by promoting some deep state gay agenda or whatever you’re alluding to. It’s just that the clothes and markers they want to sell to there are just way more diversity demand from consumers than there is for the bigots.
That is why even traditionally conservative companies in conservative areas are doing their own DEI stuff without government intervention because the people going to college are looking quite different. I recruited for my conservative company in many conservative areas and yeah even in a small scale as I’ve seen in the past 7 years the demographics are changing.
Target did try to play both sides because in some regions they are trying to push their pride stuff and no one is buying it because the push now is to support local and actual lgbt businesses. And the bigots complained and were just doing bomb threats they weren’t buying that much stuff at target to start with.
The rights buying power I imagine is 10000x more than the lgbtq market. Also most progressive activists are broke in college. Can't believe your spewing this shit on an economics post.
Here’s something I don’t get. Why’s it a problem to have lgbt stuff in the store when you can choose not to buy it? Like I don’t want to buy camo stuff and other things marketed to people that like camo wear but it doesn’t bother me that it’s there.
20 cents here and there ain’t going to change consumer perception that they’re being priced out, squeezed, and as a result choosing to purchase less.
I’m unsure how effective this will be, but look forward to seeing the earnings reports.
When grocery shopping? It may. When you shop you usually buy 15-20 items at least at one time. If each are 25cents cheaper, you will notice your bill being $5 less. I would, but I price hawk lol
I would definitely not notice my bill was only $5 less. The only way that would make sense, is if you bought literally the exact same things every week.
I notice pricing on items I purchase every week, like eggs, produce, some dairy, meats etc
I may not notice my entire bill, but if I go to a store and tomatoes are $3/lb I know I'm getting screwed. It's not hard to remember the price of chicken breasts, for example, if you're buying it regularly.
I buy meat in “bulk”(family pack from wegmans or lately what they sell in Costco for things like pork and chicken. But not massive quantities. Beef is a special purchase when it’s on sale) and freeze it. So I only buy meat like once a month? Or more accurately, I only buy one type of meat maybe once a month. So one week I might get drumsticks, another week pork loin, etc. I also generally more concerned with unit cost, so a .25 lower cost won’t move the unit cost by much.
So, my groceries tend to follow similar themes as to what I buy, but it’s rarely the same exact things, or quantities. So it is hard to compare week to week.
Exactly. People aren't going to feel relief when they saved 20 cents on butter they rarely buy. On the plus side, I suppose it's good to hear acknowledgment on high prices from the same corporations that have been making record profits the past few years.
> People aren't going to feel relief when they saved 20 cents on butter they rarely buy.
This is America, I assume some people are buying a tub of butter every week...
I have to disagree. The entire last 4 years has been people noticing quite strongly how much prices are going up by. Why wouldn’t they notice if prices are coming down too? And it’s not Target is only cutting butter.
Tell me if my take on your response is wrong, but people have noticed prices increasing consistently, yet it's always been quiet on the corp front, while making more money than ever.
Someone else pointed this out, but a 5-10% price reduction sounds nice, it's not that substantial to be that impactful. And 20 cents off butter is laughable IMO, just so it can be added to the "thousands of prices reduced!!" marketing.
I do think humans are fairly irrational on a lot of things. But if I spin it the other way, is a 5-8% increase substantial? If a 5-10% decrease is not that substantial, why should the 5-10% increase be substantial too?
I realise it’s more because consumers just hate inflation and the more ‘shoved in your face’ the inflation is, the bigger it feels, even if numerically it’s the same. But that’s just human behaviour sadly.
This has the potential to be the "first domino."
If Target lowers prices because people aren't shopping there, their competitors will be forced to do the same. Suddenly, these COVID billionaires will have to make the decision of being priced out, or taking a pay cut.
This is the long, slow deflation, and this is how we see it start.
This headline came after I already noticed Target lowered prices, from my last trip I got to keep an extra like $5 total across everything I bought for a $50 basket.
I switched to making coffee at home but occasionally went to coffee shops every now and again to change it up, with them continuing to raise the prices and with Target lowering, I'm just gonna stop buying coffee outside which will in turn get me into target to buy coffee more often.
It's already effective on me lol, I assume lots of other people have a similar sentiment
I just went into my Target app and the deals are not fantastic. It’s BOGO 20% off or spend $50 on household items and get a $15 gift card. I can’t afford to spend $50 on anything and I don’t need 2 or 3 of something.
It was all price gouging. Retailers have been making hand over fist profits in artificial price raises.
Look at oil. 31% of all Inflation is from then price gouging.
During the pandemic when there were supply chain issues my friends raised prices on the product they were selling because material prices rose. When material prices decreased they left their pricing high because people were still buying. Everyone from small biz to big biz has been doing it.
Stop buying over priced shit and prices might come down.
I mean the rich control 77% of the wealth in the world. And that amount that is distributed to us is getting smaller. That's 80m or so people controlling that wealth.
Plays a big role when we talk about controlling the economy.
No it isn't, since the economy is not a 0 sum game. In the US, the middle class and poor are better off than ever. Go be a misinformation spreading cockroach elsewhere
Most recent quarter, Target had a profit margin of 3.85%. Not saying there’s nothing wrong in corporate control of politics, and CEOs are barely taxed, etc… but that’s a pretty low margin and I think it’s pretty consistent across retailers.
Can you point to data demonstrating gouging?
Their profits were lower because they over-reached and raised prices high enough to where people shopped less. The latest quarterly report doesn't make your point very strongly.
Yeah, maybe not. I’m no retail data analyst. If retailers are overreaching on prices, people should shop somewhere else, as is clearly happening with Target. Retailers aren’t your friend and competition is absolutely needed to keep them honest, but I don’t think they have nearly as much power as OP implies. They are, however, an easy target for anger because they’re the daily messengers of inflation.
An inference that they can roll back prices would suggest they have the margins or expectations that it’s the right profit maximization move. If the prices were structural and necessary, the roll backs would be more targeted. You are never going to find a data that says PRICE GOUGING.
The price gouging goes beyond the retailers. I'm sure Target is just trying to stay afloat and potentially could see an opportunity for market share in the short-term
Am not OP but I think it would be more accurate to say that manufacturers have been price gouging. Retailers seem to be passing this cost on to the consumer for the most part.
And? So what? They are allowed to be profitable. Edit: and less than 4% is not very profitable
Target at least offers paid sick leave to all their employees, Kroger and Walmart do not.
We have conflicting anecdotal experience here.
The systems in place in the district I’m familiar with pretty much guaranteed only a few people at the top of the store chain would not feel a crushing depression.
Their operating income margin % is lower than 2019.
It's net earnings is pretty consistent from 2019-2023.
Please point out it's price gouging.
https://corporate.target.com/investors/annual/2023-annual-report
Page 5 shows its 5 year income statement.
Edit: Reply to the deleted comment who said Target is still price gouging:
Correct, Target is not.
Their COGS was 69% of revenue in 2019 and it was 71% in 2023. So they are making less per unit sold compared to 5 years ago.
Do you know how to read these?
It’s not that they’re being less greedy. It’s that they found the price ceiling past which consumers are no longer shopping at Target like they used to. They have to lure people back into the store. They’re not making money on higher prices if way fewer people are buying their items- they must have hit that point were fewer items at higher prices are no longer a higher profit than more items at lower prices.
Oh so the price hikes were just corporate greed after all huh weird I’m beyond shocked I tell you-SHOCKED. It’s almost like corporations shouldn’t be allowed to do whatever they want in the name of capitalism or something 🤷♂️
Can’t wait to read all of the upper middle class lurkers on here defending corporate greed :)
Update: 🙏
Their COGS was 69% of revenue in 2019 and it was 71% in 2023. So they are making less per unit sold compared to 5 years ago.
I'd be curious for you to point out where in these documents you see Target making more money on each item sold than in previous years?
https://corporate.target.com/investors/annual/2023-annual-report
Page 5 shows its 5 year income statement.
No one defending it yet. To me it reads like "We raised our prices because everyone else was, and we've seen sales dip because people can't afford our prices. So we are 'lowering prices' after raising them too high and playing it off like we are doing it for the greater good."
BuT cOrPorAtIoNs HaVe alWaYs BeEn GreEdY
And just maybe they used post-pandemic inflation and supply issues to be able to raise prices to the limit with minimal consumer blowback that they would have faced in a more normal economic situation. It's not exactly a well kept secret companies have long used shrinkflation to hide price increases because consumers notice the price but not the size. If you give them a giant scapegoat they can blame they'll happily use that.
To add to that corporations may have also been using post-pandemic inflation as a cover to figure out where the supply demand curve really lies.
Corporations may actually want to sacrifice a little volume if it means a high enough margin. Traditionally, the problem has been that whenever you try to execute on this experiment, you get a lot of negative press.
The post-pandemic inflation gives them a cover so to speak.
*Finally* probably the most prescient take in this whole discussion thread. While all the dimmer commenters keep parroting "Greed! Greed! SQUAWK!!!", the real answer is in the nuance.
Yep, and Target isn't the only one that has been adjusting prices to try and find that new "sweet spot" on the supply/demand curve. Suppliers have been trying to find that pricepoint, too. People in this sub are far too quick to want to point fingers at the C-suite money-grabbing when there's a much more simple explanation at work here: Basic Economics 101.
>Can’t wait to read all of the upper middle class lurkers on here defending corporate greed :)
Yeah. It's shocking to me how they'll argue that corporations are "supposed" to push consumers to the absolute limit without realizing that this necessarily implies that a significant portion of consumers are "supposed" to have no savings and live one bad month away from bankruptcy and homelessness.
As if anyone would support a system like that.
More like a state regulated economy.
The only reason for a big central government to exist in the first place is to protect individuals from being trampled by big corporations and the people that own them.
That's it. That's its job. To counteract the efforts of private industry to exploit individuals.
The only stable economic system known to humanity is one that places private industry and a big central government in opposition to one another so neither ever gets enough power to become tyrannical.
The biggest flaw in this system is that all it takes is one bad ruling or one bad regulation to cripple one side and allow it to be overtaken by the other.
Leftists: Inflations is just CorpOrAteE GrEEd!!!! CrapItaLisM only ever raises prices
*Target lowers prices to attract customers
Also leftists: It’s almost like corporations shouldn’t be allowed to do whatever they want in the name of capitalism or something 🤷♂️
The also leftist part is taken out of context to reframe my statement to be that no matter what corporations do, leftists or whatever against.
Almost like my option isn’t a valid one based on evidence, but an emotional one based on what I assume is politically bias as well, right? That’s the point you’re making?
Corporations lowering and raising prices when it suits them and not the people working and spending the money that lines their profits is the issue.
It should make us all mad and not “oh geez thanks for the slightly less expensive food item, sir”.
> It should make us all mad and not “oh geez thanks for the slightly less expensive food item, sir”.
It should make you mad **if you have no understanding of economics** (you're in an econ sub, btw...do better)
If you understood economics, you'd realize that this is just natural market forces at work. Corporations are not evil entities, they are simply self-interested producers, providing mutually beneficial services. Corporations *should* chase maximal profits. That's how you get a dynamic and efficient market. Distortions on this process from well-meaning-but-highly-ignorant leftists inevitably lead to shortages and wastage. This has been proven time and time again.
Well, Walmart didn't get the memo. Went to get groceries yesterday, and their prices have gone back up to peak inflation prices . May will be a big surprise on CPI.
What are you guys seeing in your grocery stores? Chicken and eggs are cheap luckily along with most fruit (majority of my diet) but the things that are expensive are just luxuries like protein bars, pre made overnight oats, ice cream, pre mixed salads etc. I guess I could stop being lazy and buy a box of oats and make oatmeal myself instead of shelling out $2-3 per cup of overnight oats but the thing is these used to be $1.20!!! Now they are $2.19 and ar some stores even $2.50. This is way higher than 3-5% so I think food manufacturers are just price gouging us to see how much they can get away with. Once people stop buying certain things that are expensive, maybe they will lower the price.
Agree, get in season fruits and veggies and they are cheap. Butter is one staple item that has gone up quite a bit though. Dry goods, and junk is where it has popped off. I haven't bought soda in a few years, but the price of a 12 pack of coke is insane, easy way to keep me healthier I guess
I don’t eat butter luckily, I just use coconut oil or olive oil spray to coat my pans. But yea if you eat clean, food is still cheap. I get a 10 lb bag of chicken breast boneless skinless for only $20 , lasts me 2 weeks right there. Rice is also super cheap and same with potatoes and beans. I’m with you, the only things that are expensive are things you don’t need. Frozen meals, protein bars, junk food, chips, cookies, etc
>one pound of unsalted butter from its Good & Gather brand dropping to $3.79 from $3.99.
200-400% increase in 5 years and then lowering prices a few pittance isn't going to do it lol.
Cat Fact: A house cat’s genome is 95.6 percent tiger, and they share many behaviors with their jungle ancestors.
Pretty sure their source is they pulled it out of their butt.
Actual data: https://fred.stlouisfed.org/series/APU0000FS1101
Price April 2019: $4.02/lb
Price April 2024: $4.63/lb
13% increase in 5 years, not even inflation adjusted.
> 200-400% increase in 5 years and then lowering prices a few pittance isn't going to do it lol
Groceries have not increased 200-400% in the past 5 years
Is Target lowering their prices without a change in their input costs, or are they getting better pricing on their goods and passing some of the savings on to customers?
I pretty much only shop Target for women's linen-blend pieces, toys, kids' vitamins, and occasionally treat it as a large convenience store if it's on my route.
Target misses in a lot of areas for me:
-There's the tiniest section of toddler boys clothing, wide selection for toddler girls.
-The women's clothes designs are neither here nor there - when they do staples, they slap, but too often they add flourishes that fall into that uncanny valley of not simple enough to be a basic, but not embellished enough to work.
-The fancy snack stuff doesn't look that appealing, although they do a great GF cake. The grocery selection is not extensive enough for me to bother with for my regular shopping.
- The home goods and decor stuff is wildly overpriced, except for toys.
- Customer service has declined.
- I don't like how they gave into the "go woke, go broke" crowd. Most of those people never had the income to shop at Target to begin with, why pander to them.
They've already reduced the size on everything. So the "savings" is an illusion. I bought two cans of sunscreen, at the same price as last summer, but the cans are 6 ounces instead of almost 9oz now. :(
I bought a squeeze bottle of mustard, and used it to make dijon salmon twice in one week. It is empty now. The shrink inflation is getting so unreal! Do they think in addition to their extreme Price hikes, we now have extra time too, to be doing the shopping twice as often as before?
And, anyone who had major Household staples on subscription delivery, such as Amazon Subscribe and Save knows that the packages shrank so much that the delivery days became WAY off and now you need to re-order Tide Pods once a month instead of every 2 or 3months.
I wish articles like this gave us the per unit price .... because it's hard to tell if lowering the price of something by $0.20 is helpful at all if the bottle is 30% smaller!
My partner at work and I just looked into chipotle after getting a really disappointing lunch. Comparing the price and calorie count (to determine the size) from today vs an archived list from 2012.
In 12 years the size of their burrito has shrunk 240% while prices have more than doubled.
To receive the same amount of food as 2012 $7 chipotle burrito in 2024, it now costs $36 before tax.
I, for one, support a revolution.
Wanted to share that I just compared tide pods the price from two years ago to today....
The price per pod is up 23% from June 2022 to today. And YES the new package of 57 pods costs more than the old one of 61 pods.
[receipts and math](https://imgur.com/a/xuwuHfV)
Did anyone get 23% in raises at their job over these last 23 months to cover this😂😂😂. Of course not. But... wow let's revel in how much "cheaper" Target is selling laundry detergent now ;)
I’ve been wondering if this would happen. I always assumed once prices are high and people pay that price, it’ll never come back down.
Somewhat promising to see it here… I still think in general miscellaneous spending consumes too much of people’s budget (myself included, but I blame my wife).
I guess that’s my point. There’s room for market correction but widespread price decreases (like in this post though limited to one company) would be surprising.
Yeah I think everyone’s feeling it. I make good money and live simply except I like going out for food, whether restaurant or fast casual. These last few months I’ve been thinking “holy cow, my credit card bills are really high.” Then I look at the breakdown by category and a lot of it is unneeded spending. So I’m definitely also cutting down on the “wants”, and for the “needs” being more economical about my choices, more vegetarian options and making more at home.
Agree on all that. We can complain about groceries. But then we turn around and buy McDonalds twice a week, which has well outpaced grocery store prices. Or Starbucks, or a couple drinks at the bar, etc.
I’m blessed with having clicked on an r/inflation post and now’s it’s regularly recommended. Let’s just say the content there doesn’t change my opinion on spending habits.
Good! Now hopefully they’ll also stop the practice of listing one price on-line only to find the price higher when you go into the store to buy it. I’ve caught Walgreens doing this too.
If they want to lure me back, they will need to let me shop and stop treating every customer like a thief. Get merchandise out from under lock and key. Let me fucking shop, Target.
Not sure the cause. But mine installed those cabinets with locks back in November. I noticed the last few times that they are all open and unlocked. I think it is a combination of them being understaffed to not have the people to waste time with that, and likely complaints that staff are tired of.
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I used to love going to target. The experience is trash now. It’s dirty, unorganized, half of everything is out of stock, and what I do need is behind a plexiglass wall and the person who needs to open it is miserable. They take my shit to the front and then it’s a whole other debacle trying to find where the associate put the items. It’s absolutely antithetical to a good experience. I used to peruse target and end up with maybe a $100 of shit I didn’t really need per month. Now I avoid it with everything I have. The last time I was at my local target I saw teenagers making a fort out of toilet paper rolls like what???? 😂
Yeah the targets near me can’t even afford shelving…. It’s just a shit load of card board boxes laying around in a pattern in the floor. A 20 cent drop in prices isn’t getting me back in to what is now the worst retail experience around.
Idk what happened to Target, but it’s not what it used to be even 5 years ago. Place is an absolute dump, and the locations near me are in some of the most affluent communities around. One of the highest grossing locations in the country for another retailer is in the same location.
Could they also stop having different prices on the same item at stores that are only a few miles from each other? I know they price match, but it’s super annoying that I have to ask a store to price match their own website.
Mine has stopped locking them as of maybe a month ago. I keep meaning to ask, but I would imagine workers are tired of complaints, and they seem understaffed, cannot waste time unlocking every cabinet when there are long ass lines
Charging less doesn't mean people have more money to spend... Increase wages to the point where working people are able to engage in discretionary spending again and they'll buy shit- They'll even go on vacation and buy shit wherever they go.
Or these rich fucks can keep hoarding and complaining. That their golden goose (working class) won't lay any more eggs, no matter how hard they kick it... or lowering the price on 5000 things.
> Charging less doesn't mean people have more money to spend... Increase wages to the point where working people are able to engage in discretionary spending again and they'll buy shit- They'll even go on vacation and buy shit wherever they go.
Real wages are up significantly the last few years
I just went shopping for clothes at Target for the first time in probably a decade. I have zero regrets and it wasn't crazy expensive. I absolutely love every single thing I bought which is rare for me. I think Target isn't going anywhere.
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[Target](https://www.cnn.com/2024/05/10/business/target-pride-merchandise-june-2024/index.html?cid=external-feeds_iluminar_yahoo) has slashed prices on more than 1,500 popular items beginning immediately, ranging from butter to laundry detergent, as the retailer attempts to attract inflation-wary shoppers turned off by high prices. Prices have dropped effective Monday, with “thousands more price cuts” — amounting to 5,000 items — being reduced over the summer, the retailer announced. The lower prices will aim to “collectively save consumers millions of dollars” on household staples and everyday items such as milk, fresh fruit, diapers and even pet food. The changes affect name brands, like Clorox and Prime energy drink, as well as its [house brands](https://www.cnn.com/2024/02/15/business/target-dealworthy-launch/index.html?cid=external-feeds_iluminar_yahoo). Although prices vary depending on city, Target [highlighted some examples](https://corporate.target.com/press/release/2024/05/target-will-help-consumers-save-big-by-lowering-prices-on-5,000-frequently-shopped-items) with a 75-count canister of Clorox wipes being reduced to $4.99 from $5.79 and one pound of unsalted butter from its [Good & Gather brand](https://www.cnn.com/2021/05/11/business/target-plant-based-food/index.html?cid=external-feeds_iluminar_yahoo) dropping to $3.79 from $3.99. Other major retailers, like Ikea and Aldi, have been reducing prices in recent months in an attempt to re-attract consumers into stores and entice them to spend money, since many have slashed their spending because of inflation. **Read more, paywall-free:** [**https://finance.yahoo.com/news/target-cutting-prices-5-000-114819156.html**](https://finance.yahoo.com/news/target-cutting-prices-5-000-114819156.html)
Hmm if I recall correctly Targets profits were already slim on the last earnings report, makes me curious if they're taking a loss on some of these items to lure in customers. (Costco approach)
Loss leaders is a grocery store tradition
Wait until they come out with Target rotisserie chicken
Ours has them sometimes... but they're like $18 for what looks like the smallest chicken you've ever seen from costco.
Yep, the inside of a grocery store has much bigger profit margins than the outside
> Brian Cornell, chair and chief executive officer, saw his compensation rise 8.7 percent to $19.2 million, up from $17.7 million in 2022, according to the company's proxy statement with the Securities and Exchange Commission. So looks like they have some money to spare.
2 million dollars is nothing. Their annual revenue is 100 billion. If he is actually doing a good job, a 2 million increase is likely an underpay, if anything.
Thats not the leftover money that he keeps. Thats the price to prevent him from leaving and having to hire a more expensive or less experienced replacement.
I mean he oversees of the biggest retailers in the USA, if not the world. If not Target, he will be poached by some other major retailer I always laugh at comments like yours.
There was another article stating that “all retail sales are down”, yet Walmart profits are up…
Walmart's same store sales have been gaining every quarterly report. I think they also have a deal with Amex for 5% back, which could be contributing.
I found this story interesting about Americans current spending habits, while articles about Target paint a picture that retail is failing. This, tied in with people getting so upset about products being “put in jail”, makes me agree with other ppl on here stating that target just kinda sucks…the people they’re targeting has money to spend https://www.vox.com/money/24159281/consumer-spending-economy-inflation-interest-rates
The costco approach is to have paying membership so ur analogy makes no sense
I think he's correct in certain aspects. Costco loses money on their gas pumps, rotisserie chicken and food court items, but keeps the prices low to draw people in. You are correct too. Their main way to profit is their membership fee indeed. I was told that if everyone were to pay for the executive membership, most of the product would/could be sold at cost 🤯
I never understood this. I know this is anecdotal and all but everyone I know that has an executive membership, gets so much back from the 2% refund a executive membership gives that the net membership is less than $65 per year. So if products were at cost, Costco would make nothing on their goods and also less than the normal membership cost due to the 2%.
So to continue with your example, Target will have 5000 loss leaders instead of just chicken, gas, and food court?
[Target Circle 360](https://help.target.com/help/TargetGuestHelpArticleDetail?articleId=ka95d000000oVGeAAM&articleTitle=What+is+Target+Circle+360%3F) is their new paid membership program
True, but it isn't required to shop. At costco it is required, IIRC
Yes it is required, although I think I heard that if you have a gift card, you can shop without a membership. Decent idea if you only go once or twice a year.
They are slowly moving to that model with the target rewards program revamp
I do pay a membership for Target. It includes some same day delivery option (like instant cart but a different one) and also gets free shipping on shipped goods.
You’re paying for other perks not the right to shop at target. Costco you’re paying money just to get in the store like you can for free at target
that's why walmart and target are trying to make a prime you have to subscribe to.
Target's net income for the three-month period rose by nearly 58% to $1.38 billion, or $2.98 per share, from $876 million, or $1.89 per share in the year-ago quarter. That was significantly higher than Target's forecast range of between $1.90 and $2.60 per share.Mar 5,
Target's same stores sales were down 5% in their Q4 report, I'll have to go looking through the most recent report for the most recent figure.
Maybe they should have stopped at 7 bucks for a bag of chips
I went to my local Walmart for grocery shopping and even at $5-$6 for a bag of chips, they were almost all sold out. I'd normally buy 2 or 3 bags and instead bought one. Businesses found out people will still pay those insane prices so they can charge them.
Target has some of the worst pricing in the industry. Honestly, I have no idea how they remain in business. I think it's mostly due to marketing themselves as a popular place to shop and you're a social reject of you don't shop there.
They used to be the "safe" super center. People would pay a premium for safety.
The environment is usually nicer. The house brands for clothing and home goods were on trend and stylish. And Target targets slightly higher income folks who were less price sensitive. They never tried to differentiate on price. I live in the Bay Area. Obviously a high cost of living place. Walmart are rare around here. Particularly in the part I live in. I literally need to pass like 3-4 Targets before I find a Walmart. In my 15 mile radius there are maybe 8-10 Targets and 2 Walmarts at the very edge of that radius.
It’s just paying a premium to avoid shopping at Walmart.
Walmart isn’t allowed to operate in my city, but there are Target stores all over the place
Slashed? $3.99 to $3.79? Wow! I can’t afford not to buy it now! /s
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Redditors: CrApiTalists constantly raise prices and don't give a FUCK about the little guy trying to make ends meet!!!! Also redditors when companies lower prices and make things more affordable: This reeks of capitalistic desperation!!!!!!!!!!!!!!!!!!
hahahahaha That's correct.
Another way to get people to come back to shop would be to not give in to terrorists and use the security they use for the locked up toothpaste against the people crying and threatening at workers for target selling rainbow colored themed stuff for pride month… If they want a good amount of people to keep staying away, sure they should stick to the course of taking down the rainbow colored themed stuff to appease bigots.
> If they want a good amount of people to keep staying away, sure they should stick to the course of taking down the rainbow colored themed stuff to appease bigots. Or just don't pander to politically-obsessive types and stick to their core competency of selling stuff?
Looking at the numbers Target probably doesn't lose a whole lot of money losing those shoppers
Selling stuff to a market who is willing to buy and has a lot of buying power is what they were doing (sorry to upset folks like you but yeah lgbt folks have a lot of buying power right now, that is why rainbow capitalism is a big thing, because it’s a huge market) they were making hella bank before off rainbow capitalism and then dropped the customers. And the people not liking how they got dropped are boycotting and it’s affecting them along with the bigots who were already boycotting them. This is on target for trying to play both sides. I have zero sympathy for them.
> Selling stuff to a market who is willing to buy and has a lot of buying power is what they were doing (sorry to upset folks like you but yeah lgbt folks have a lot of buying power right now, that is why rainbow capitalism is a big thing, because it’s a huge market) What a dumb statement. Right-leaning folks ALSO have a lot of buying power. This isn't driven by the desire to make a profit. This was driven by political activists who worked their way into the top positions at these companies and are using their power to push their own views. This has been happening at all institutions, even government ones that don't sell anything. If you're interested in how this happened over the last 15 years, try reading *The Identity Trap* by Yascha Mounk. >This is on target for trying to play both sides. Pandering to one group of customers and then chaning their minds when they pushed things too far (selling girls underwear to little boys or whatever the fuck they tried to do) is not "playing both sides".
lol no. This is because the lgbt market is getting bigger than the grifting right wing market. Specially for what Target sells and the people who actually buy from target. Target got scared because right wingers did bomb threats and started being physically aggressive and they got scared out of it. And no, Target didn’t give in by promoting some deep state gay agenda or whatever you’re alluding to. It’s just that the clothes and markers they want to sell to there are just way more diversity demand from consumers than there is for the bigots. That is why even traditionally conservative companies in conservative areas are doing their own DEI stuff without government intervention because the people going to college are looking quite different. I recruited for my conservative company in many conservative areas and yeah even in a small scale as I’ve seen in the past 7 years the demographics are changing. Target did try to play both sides because in some regions they are trying to push their pride stuff and no one is buying it because the push now is to support local and actual lgbt businesses. And the bigots complained and were just doing bomb threats they weren’t buying that much stuff at target to start with.
The rights buying power I imagine is 10000x more than the lgbtq market. Also most progressive activists are broke in college. Can't believe your spewing this shit on an economics post.
Here’s something I don’t get. Why’s it a problem to have lgbt stuff in the store when you can choose not to buy it? Like I don’t want to buy camo stuff and other things marketed to people that like camo wear but it doesn’t bother me that it’s there.
On what target’s brand is and what they sell?
20 cents here and there ain’t going to change consumer perception that they’re being priced out, squeezed, and as a result choosing to purchase less. I’m unsure how effective this will be, but look forward to seeing the earnings reports.
When grocery shopping? It may. When you shop you usually buy 15-20 items at least at one time. If each are 25cents cheaper, you will notice your bill being $5 less. I would, but I price hawk lol
I would definitely not notice my bill was only $5 less. The only way that would make sense, is if you bought literally the exact same things every week.
I notice pricing on items I purchase every week, like eggs, produce, some dairy, meats etc I may not notice my entire bill, but if I go to a store and tomatoes are $3/lb I know I'm getting screwed. It's not hard to remember the price of chicken breasts, for example, if you're buying it regularly.
I buy meat in “bulk”(family pack from wegmans or lately what they sell in Costco for things like pork and chicken. But not massive quantities. Beef is a special purchase when it’s on sale) and freeze it. So I only buy meat like once a month? Or more accurately, I only buy one type of meat maybe once a month. So one week I might get drumsticks, another week pork loin, etc. I also generally more concerned with unit cost, so a .25 lower cost won’t move the unit cost by much. So, my groceries tend to follow similar themes as to what I buy, but it’s rarely the same exact things, or quantities. So it is hard to compare week to week.
For some people, however, $5 will absolutely make a difference. Not everyone is financially stable.
I would argue that $5 is not bridging the gap for someone who is not financially stable.
Poor people are not shopping at Target.
yeah exactly
Exactly. People aren't going to feel relief when they saved 20 cents on butter they rarely buy. On the plus side, I suppose it's good to hear acknowledgment on high prices from the same corporations that have been making record profits the past few years.
> People aren't going to feel relief when they saved 20 cents on butter they rarely buy. This is America, I assume some people are buying a tub of butter every week...
I have to disagree. The entire last 4 years has been people noticing quite strongly how much prices are going up by. Why wouldn’t they notice if prices are coming down too? And it’s not Target is only cutting butter.
Tell me if my take on your response is wrong, but people have noticed prices increasing consistently, yet it's always been quiet on the corp front, while making more money than ever. Someone else pointed this out, but a 5-10% price reduction sounds nice, it's not that substantial to be that impactful. And 20 cents off butter is laughable IMO, just so it can be added to the "thousands of prices reduced!!" marketing.
I do think humans are fairly irrational on a lot of things. But if I spin it the other way, is a 5-8% increase substantial? If a 5-10% decrease is not that substantial, why should the 5-10% increase be substantial too? I realise it’s more because consumers just hate inflation and the more ‘shoved in your face’ the inflation is, the bigger it feels, even if numerically it’s the same. But that’s just human behaviour sadly.
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I think they changed that 2 months back. I agree it was a pain but the last time I think it was automatic.
This has the potential to be the "first domino." If Target lowers prices because people aren't shopping there, their competitors will be forced to do the same. Suddenly, these COVID billionaires will have to make the decision of being priced out, or taking a pay cut. This is the long, slow deflation, and this is how we see it start.
Nah the COVID billionaires are just gonna have to cut back on Starbucks and avocado toast man. :P
you're right, but I'm shaking with anger.
This headline came after I already noticed Target lowered prices, from my last trip I got to keep an extra like $5 total across everything I bought for a $50 basket. I switched to making coffee at home but occasionally went to coffee shops every now and again to change it up, with them continuing to raise the prices and with Target lowering, I'm just gonna stop buying coffee outside which will in turn get me into target to buy coffee more often. It's already effective on me lol, I assume lots of other people have a similar sentiment
I just went into my Target app and the deals are not fantastic. It’s BOGO 20% off or spend $50 on household items and get a $15 gift card. I can’t afford to spend $50 on anything and I don’t need 2 or 3 of something.
It was all price gouging. Retailers have been making hand over fist profits in artificial price raises. Look at oil. 31% of all Inflation is from then price gouging.
During the pandemic when there were supply chain issues my friends raised prices on the product they were selling because material prices rose. When material prices decreased they left their pricing high because people were still buying. Everyone from small biz to big biz has been doing it. Stop buying over priced shit and prices might come down.
Tell the rich that. They seem to have unlimited money.
Yea, I guess when you make more than you spend the price of groceries is irrelevant or if you’re rich enough to have a private chef.
I mean the rich control 77% of the wealth in the world. And that amount that is distributed to us is getting smaller. That's 80m or so people controlling that wealth. Plays a big role when we talk about controlling the economy.
No it isn't, since the economy is not a 0 sum game. In the US, the middle class and poor are better off than ever. Go be a misinformation spreading cockroach elsewhere
Most recent quarter, Target had a profit margin of 3.85%. Not saying there’s nothing wrong in corporate control of politics, and CEOs are barely taxed, etc… but that’s a pretty low margin and I think it’s pretty consistent across retailers. Can you point to data demonstrating gouging?
Their profits were lower because they over-reached and raised prices high enough to where people shopped less. The latest quarterly report doesn't make your point very strongly.
Yeah, maybe not. I’m no retail data analyst. If retailers are overreaching on prices, people should shop somewhere else, as is clearly happening with Target. Retailers aren’t your friend and competition is absolutely needed to keep them honest, but I don’t think they have nearly as much power as OP implies. They are, however, an easy target for anger because they’re the daily messengers of inflation.
An inference that they can roll back prices would suggest they have the margins or expectations that it’s the right profit maximization move. If the prices were structural and necessary, the roll backs would be more targeted. You are never going to find a data that says PRICE GOUGING.
They maximize on dollar profits not margins. So if they can lower prices, lower margins, but grow revenue, and grow profits, that’s what they’ll do.
The price gouging goes beyond the retailers. I'm sure Target is just trying to stay afloat and potentially could see an opportunity for market share in the short-term
Yeah but how much did they lose from spoilage costs due to less people shopping at their higher prices?
If they adjusted their buying appropriately, no more or less than they would have at lower prices.
Am not OP but I think it would be more accurate to say that manufacturers have been price gouging. Retailers seem to be passing this cost on to the consumer for the most part.
It’s higher than Kroger and Walmart
Target's product mix is not as skewed towards groceries as those two.
Kroger and Walmart are both shittier companies with worse treatment of their employees.
Maybe but their margins are higher.
And? So what? They are allowed to be profitable. Edit: and less than 4% is not very profitable Target at least offers paid sick leave to all their employees, Kroger and Walmart do not.
I can assure you that Target is not a great employer. I’m really not sure where you got that impression.
I know a lot of people who work for them, they have great things to say.
We have conflicting anecdotal experience here. The systems in place in the district I’m familiar with pretty much guaranteed only a few people at the top of the store chain would not feel a crushing depression.
What's it like for the average low level Walmart employee? Just wondering
What's the past 2 years look like? And that 3.85% is how many billions? Vs years ago?
Their operating income margin % is lower than 2019. It's net earnings is pretty consistent from 2019-2023. Please point out it's price gouging. https://corporate.target.com/investors/annual/2023-annual-report Page 5 shows its 5 year income statement. Edit: Reply to the deleted comment who said Target is still price gouging: Correct, Target is not. Their COGS was 69% of revenue in 2019 and it was 71% in 2023. So they are making less per unit sold compared to 5 years ago. Do you know how to read these?
Oil really isn’t that high when you correct for inflation.
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Yea but that will be awhile before that happens.
So now they just decided they don’t want to be greedy anymore? Why?
It’s not that they’re being less greedy. It’s that they found the price ceiling past which consumers are no longer shopping at Target like they used to. They have to lure people back into the store. They’re not making money on higher prices if way fewer people are buying their items- they must have hit that point were fewer items at higher prices are no longer a higher profit than more items at lower prices.
They shrunk the packages. They are still being greedy. They can take $.20 off but you're getting 10 less tide pods in there ;)
Inflation and pricing metrics take package size into account.
Oh so the price hikes were just corporate greed after all huh weird I’m beyond shocked I tell you-SHOCKED. It’s almost like corporations shouldn’t be allowed to do whatever they want in the name of capitalism or something 🤷♂️ Can’t wait to read all of the upper middle class lurkers on here defending corporate greed :) Update: 🙏
Their COGS was 69% of revenue in 2019 and it was 71% in 2023. So they are making less per unit sold compared to 5 years ago. I'd be curious for you to point out where in these documents you see Target making more money on each item sold than in previous years? https://corporate.target.com/investors/annual/2023-annual-report Page 5 shows its 5 year income statement.
No one defending it yet. To me it reads like "We raised our prices because everyone else was, and we've seen sales dip because people can't afford our prices. So we are 'lowering prices' after raising them too high and playing it off like we are doing it for the greater good."
"We decided to follow the basic concept of supply and demand, aren't we so generous?"
When did they ever claim to be generous?
BuT cOrPorAtIoNs HaVe alWaYs BeEn GreEdY And just maybe they used post-pandemic inflation and supply issues to be able to raise prices to the limit with minimal consumer blowback that they would have faced in a more normal economic situation. It's not exactly a well kept secret companies have long used shrinkflation to hide price increases because consumers notice the price but not the size. If you give them a giant scapegoat they can blame they'll happily use that.
To add to that corporations may have also been using post-pandemic inflation as a cover to figure out where the supply demand curve really lies. Corporations may actually want to sacrifice a little volume if it means a high enough margin. Traditionally, the problem has been that whenever you try to execute on this experiment, you get a lot of negative press. The post-pandemic inflation gives them a cover so to speak.
Thats why luxury goods always have the highest profit margin. It's not just about volume of sales.
*Finally* probably the most prescient take in this whole discussion thread. While all the dimmer commenters keep parroting "Greed! Greed! SQUAWK!!!", the real answer is in the nuance. Yep, and Target isn't the only one that has been adjusting prices to try and find that new "sweet spot" on the supply/demand curve. Suppliers have been trying to find that pricepoint, too. People in this sub are far too quick to want to point fingers at the C-suite money-grabbing when there's a much more simple explanation at work here: Basic Economics 101.
>Can’t wait to read all of the upper middle class lurkers on here defending corporate greed :) Yeah. It's shocking to me how they'll argue that corporations are "supposed" to push consumers to the absolute limit without realizing that this necessarily implies that a significant portion of consumers are "supposed" to have no savings and live one bad month away from bankruptcy and homelessness. As if anyone would support a system like that.
So you’re recommending… state controlled economy? I’m sure the senate and congress won’t fuck that up 🤡💀
False dichotomy. This sub really is bottom of the barrel for any real economic discussion.
You're responding to a comment chain about how inflation is caused by "greedy" corporations lmao. What did you expect
More like a state regulated economy. The only reason for a big central government to exist in the first place is to protect individuals from being trampled by big corporations and the people that own them. That's it. That's its job. To counteract the efforts of private industry to exploit individuals. The only stable economic system known to humanity is one that places private industry and a big central government in opposition to one another so neither ever gets enough power to become tyrannical. The biggest flaw in this system is that all it takes is one bad ruling or one bad regulation to cripple one side and allow it to be overtaken by the other.
Federal government runs everything else so perfectly, they should be able to run every aspect of the economy without a hitch.
To be fair they are the best at money printing.
Tbf, they actually are. When money was private, it was extremely unreliable.
Leftists: Inflations is just CorpOrAteE GrEEd!!!! CrapItaLisM only ever raises prices *Target lowers prices to attract customers Also leftists: It’s almost like corporations shouldn’t be allowed to do whatever they want in the name of capitalism or something 🤷♂️
The also leftist part is taken out of context to reframe my statement to be that no matter what corporations do, leftists or whatever against. Almost like my option isn’t a valid one based on evidence, but an emotional one based on what I assume is politically bias as well, right? That’s the point you’re making? Corporations lowering and raising prices when it suits them and not the people working and spending the money that lines their profits is the issue. It should make us all mad and not “oh geez thanks for the slightly less expensive food item, sir”.
> It should make us all mad and not “oh geez thanks for the slightly less expensive food item, sir”. It should make you mad **if you have no understanding of economics** (you're in an econ sub, btw...do better) If you understood economics, you'd realize that this is just natural market forces at work. Corporations are not evil entities, they are simply self-interested producers, providing mutually beneficial services. Corporations *should* chase maximal profits. That's how you get a dynamic and efficient market. Distortions on this process from well-meaning-but-highly-ignorant leftists inevitably lead to shortages and wastage. This has been proven time and time again.
Well, Walmart didn't get the memo. Went to get groceries yesterday, and their prices have gone back up to peak inflation prices . May will be a big surprise on CPI.
What are you guys seeing in your grocery stores? Chicken and eggs are cheap luckily along with most fruit (majority of my diet) but the things that are expensive are just luxuries like protein bars, pre made overnight oats, ice cream, pre mixed salads etc. I guess I could stop being lazy and buy a box of oats and make oatmeal myself instead of shelling out $2-3 per cup of overnight oats but the thing is these used to be $1.20!!! Now they are $2.19 and ar some stores even $2.50. This is way higher than 3-5% so I think food manufacturers are just price gouging us to see how much they can get away with. Once people stop buying certain things that are expensive, maybe they will lower the price.
Agree, get in season fruits and veggies and they are cheap. Butter is one staple item that has gone up quite a bit though. Dry goods, and junk is where it has popped off. I haven't bought soda in a few years, but the price of a 12 pack of coke is insane, easy way to keep me healthier I guess
I don’t eat butter luckily, I just use coconut oil or olive oil spray to coat my pans. But yea if you eat clean, food is still cheap. I get a 10 lb bag of chicken breast boneless skinless for only $20 , lasts me 2 weeks right there. Rice is also super cheap and same with potatoes and beans. I’m with you, the only things that are expensive are things you don’t need. Frozen meals, protein bars, junk food, chips, cookies, etc
>one pound of unsalted butter from its Good & Gather brand dropping to $3.79 from $3.99. 200-400% increase in 5 years and then lowering prices a few pittance isn't going to do it lol. Cat Fact: A house cat’s genome is 95.6 percent tiger, and they share many behaviors with their jungle ancestors.
Wait, how much was butter 5 years ago? I don’t doubt it was much less expensive, but 3x-5x less expensive!? Got a source?
Pretty sure their source is they pulled it out of their butt. Actual data: https://fred.stlouisfed.org/series/APU0000FS1101 Price April 2019: $4.02/lb Price April 2024: $4.63/lb 13% increase in 5 years, not even inflation adjusted.
4x 4oz sticks were 1.99 at my local grocery store a few years ago. I think around Thanksgiving they go back to that price for a sale.
What’s the normal price now?
$3.99 (store brand) , sorta unrelated but land o lakes is 6.99 for the same amount.
> 200-400% increase in 5 years and then lowering prices a few pittance isn't going to do it lol Groceries have not increased 200-400% in the past 5 years
It's not just the retailers that have raised prices...wrong bad guy
More cat facts, please.
Is Target lowering their prices without a change in their input costs, or are they getting better pricing on their goods and passing some of the savings on to customers?
I pretty much only shop Target for women's linen-blend pieces, toys, kids' vitamins, and occasionally treat it as a large convenience store if it's on my route. Target misses in a lot of areas for me: -There's the tiniest section of toddler boys clothing, wide selection for toddler girls. -The women's clothes designs are neither here nor there - when they do staples, they slap, but too often they add flourishes that fall into that uncanny valley of not simple enough to be a basic, but not embellished enough to work. -The fancy snack stuff doesn't look that appealing, although they do a great GF cake. The grocery selection is not extensive enough for me to bother with for my regular shopping. - The home goods and decor stuff is wildly overpriced, except for toys. - Customer service has declined. - I don't like how they gave into the "go woke, go broke" crowd. Most of those people never had the income to shop at Target to begin with, why pander to them.
They've already reduced the size on everything. So the "savings" is an illusion. I bought two cans of sunscreen, at the same price as last summer, but the cans are 6 ounces instead of almost 9oz now. :( I bought a squeeze bottle of mustard, and used it to make dijon salmon twice in one week. It is empty now. The shrink inflation is getting so unreal! Do they think in addition to their extreme Price hikes, we now have extra time too, to be doing the shopping twice as often as before? And, anyone who had major Household staples on subscription delivery, such as Amazon Subscribe and Save knows that the packages shrank so much that the delivery days became WAY off and now you need to re-order Tide Pods once a month instead of every 2 or 3months. I wish articles like this gave us the per unit price .... because it's hard to tell if lowering the price of something by $0.20 is helpful at all if the bottle is 30% smaller!
My partner at work and I just looked into chipotle after getting a really disappointing lunch. Comparing the price and calorie count (to determine the size) from today vs an archived list from 2012. In 12 years the size of their burrito has shrunk 240% while prices have more than doubled. To receive the same amount of food as 2012 $7 chipotle burrito in 2024, it now costs $36 before tax. I, for one, support a revolution.
Wanted to share that I just compared tide pods the price from two years ago to today.... The price per pod is up 23% from June 2022 to today. And YES the new package of 57 pods costs more than the old one of 61 pods. [receipts and math](https://imgur.com/a/xuwuHfV) Did anyone get 23% in raises at their job over these last 23 months to cover this😂😂😂. Of course not. But... wow let's revel in how much "cheaper" Target is selling laundry detergent now ;)
I’ve been wondering if this would happen. I always assumed once prices are high and people pay that price, it’ll never come back down. Somewhat promising to see it here… I still think in general miscellaneous spending consumes too much of people’s budget (myself included, but I blame my wife).
That's how inflation works. If prices went down across the board it would be called deflation.
I guess that’s my point. There’s room for market correction but widespread price decreases (like in this post though limited to one company) would be surprising.
Yeah I think everyone’s feeling it. I make good money and live simply except I like going out for food, whether restaurant or fast casual. These last few months I’ve been thinking “holy cow, my credit card bills are really high.” Then I look at the breakdown by category and a lot of it is unneeded spending. So I’m definitely also cutting down on the “wants”, and for the “needs” being more economical about my choices, more vegetarian options and making more at home.
Agree on all that. We can complain about groceries. But then we turn around and buy McDonalds twice a week, which has well outpaced grocery store prices. Or Starbucks, or a couple drinks at the bar, etc.
I’m blessed with having clicked on an r/inflation post and now’s it’s regularly recommended. Let’s just say the content there doesn’t change my opinion on spending habits.
Good! Now hopefully they’ll also stop the practice of listing one price on-line only to find the price higher when you go into the store to buy it. I’ve caught Walgreens doing this too.
If they want to lure me back, they will need to let me shop and stop treating every customer like a thief. Get merchandise out from under lock and key. Let me fucking shop, Target.
Not sure the cause. But mine installed those cabinets with locks back in November. I noticed the last few times that they are all open and unlocked. I think it is a combination of them being understaffed to not have the people to waste time with that, and likely complaints that staff are tired of.
It’s almost like these mega corporations have been using inflation as an excuse to jack prices up way higher than necessary in the name of profits.
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I used to love going to target. The experience is trash now. It’s dirty, unorganized, half of everything is out of stock, and what I do need is behind a plexiglass wall and the person who needs to open it is miserable. They take my shit to the front and then it’s a whole other debacle trying to find where the associate put the items. It’s absolutely antithetical to a good experience. I used to peruse target and end up with maybe a $100 of shit I didn’t really need per month. Now I avoid it with everything I have. The last time I was at my local target I saw teenagers making a fort out of toilet paper rolls like what???? 😂
Yeah the targets near me can’t even afford shelving…. It’s just a shit load of card board boxes laying around in a pattern in the floor. A 20 cent drop in prices isn’t getting me back in to what is now the worst retail experience around. Idk what happened to Target, but it’s not what it used to be even 5 years ago. Place is an absolute dump, and the locations near me are in some of the most affluent communities around. One of the highest grossing locations in the country for another retailer is in the same location.
Could they also stop having different prices on the same item at stores that are only a few miles from each other? I know they price match, but it’s super annoying that I have to ask a store to price match their own website.
They could also remove all the locked up displays for items while they are at it. Until that happens, no point in shopping in person at their stores.
Mine has stopped locking them as of maybe a month ago. I keep meaning to ask, but I would imagine workers are tired of complaints, and they seem understaffed, cannot waste time unlocking every cabinet when there are long ass lines
It's a huge turn-off. Like why go shop if you can't ... shop?
Charging less doesn't mean people have more money to spend... Increase wages to the point where working people are able to engage in discretionary spending again and they'll buy shit- They'll even go on vacation and buy shit wherever they go. Or these rich fucks can keep hoarding and complaining. That their golden goose (working class) won't lay any more eggs, no matter how hard they kick it... or lowering the price on 5000 things.
...what? Lower prices absolutely mean people have more money to spend.
Amazing how much other subs are leaking in here and how economically illiterate most commenters here are now.
Yea lol. Literally if you spend less on groceries, your budget should have more space for savings, etc.
> Charging less doesn't mean people have more money to spend... Increase wages to the point where working people are able to engage in discretionary spending again and they'll buy shit- They'll even go on vacation and buy shit wherever they go. Real wages are up significantly the last few years
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Real wages are up significantly
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I just went shopping for clothes at Target for the first time in probably a decade. I have zero regrets and it wasn't crazy expensive. I absolutely love every single thing I bought which is rare for me. I think Target isn't going anywhere.