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Last week, I violated one of my own cardinal rules: I engaged with two MAGA women in a local mom Facebook group. I usually ignore them because the ignorant hysteria makes my blood boil and they have the sole intention of daring the libs to fight with them. This time, they were screaming misinformation about inflation, Ukraine funding, and conspiracies that I traced back to far right websites. I don’t know what got into me, but that day, I decided that I had the time. It was bonkers because they refused to believe that corporate greed is a massive factor in why prices have not come back down. According to them, “record profits” for big corporations has no big correlation to them jacking up prices for consumers.
Anyway, in related news, Target announced this week that they’ll be lowering prices on 5,000(!!) of their “frequently shopped items.” The cuts will remain through the end of the summer and are being done out of the good of their hearts to help them stay competitive. Target’s profits increased last year, but their sales and foot traffic dropped in comparison to wholesale clubs like Costco, BJs, and Sam’s Club, so a big part of the price cuts is to appeal to consumers who are budgeting around higher prices.
Target announced today that around 5,000 of its frequently shopped items will see prices reduced in the coming weeks. The prices on about 1,500 items have already been cut, and all the remaining price changes will be in place by the end of the summer.
“These price reductions will collectively save consumers millions of dollars this summer,” Target said in a news release, but it’s also a way for the retailer to stay competitive within the market.
Among the items discounted will be food products, Memorial Day items, things for Fourth of July fun and of course, back-to-school gear.
Here are some examples of price cuts already made and what categories will continue to see reductions:
Good & Gather Unsalted Butter (1 lb) – $3.99 to $3.79
Good & Gather Organic Baby Spinach (5 oz) – $3.29 to $2.99
Prime Hydration Sports Drinks (16.9 fl oz) – $2.19 to $1.99
Jack’s Frozen Pepperoni Pizza (14.3 oz) – $4.19 to $3.99
Thomas’ Plain Bagels (20 oz) – $4.19 to $3.79
Pepperidge Farm Goldfish Cheddar Flavor Blasted Crackers (6.6 oz) – $2.99 to $2.79
Good & Gather Sea Salt Roasted Nuts (9.5 oz) – $6.89 to $5.29
Clorox Scented Wipes (75 ct) – $5.79 to $4.99
Huggies Baby Wipes (16 ct) – $1.99 to $.99
Aveeno SPF 50 Sunscreen (3 fl oz) – $13.89 to $13.19
Persil Liquid Laundry Detergent (100 fl oz) $13.69 to $12.99
Purina One Chicken & Gravy Cat Food (13 oz) – $2.39 to $1.99
If an item has a new price, it will have an easier to decipher red tag on it in stores and online.
“We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more,” Rick Gomez, executive vice president and chief food, essentials and beauty officer of Target said in a statement Monday.
Do you guys consider this to be a win? I think anytime a company lowers prices, it’s a win for consumers, but FFS, it took long enough and those prices still feel kinda high to me. I know we’ve all felt the extra expenses in gas (thank goodness for Costco gas!) and groceries over the past few years. My own Target list has decreased significantly over the last six to nine months, for sure. I noticed several months ago that Wegmans’ prices in my area were almost back to pre-inflation prices and it’s now cheaper for me to pick up certain items there that I previously bought at Target, like bread, milk, vegetables, and ground coffee.
Anyway, it’s cute that Target is trying to play this off like they want to help us save money when in reality, they’re just finding out that it doesn’t matter what you blame your price hikes on. Higher costs are not sustainable to the majority of customers. People feel the added expenses regardless and will make adjustments to prioritize what they really need. Walmart, Aldi, and IKEA have all committed to lowering their prices this year, too, while McDonald’s and Wendy’s will be hyping up their value meal menus this summer. Maybe all of these companies are learning that there is a limit to the amount of yachts their CEOs can buy on the backs of consumers.
So you agree, inflation is just a made up thing for companies to increase profits without doing any actual work. https://t.co/07VQuVod3g pic.twitter.com/rWmkcNLsNI
— Gay and Tired (@GayChemist) May 20, 2024
