Retailers Target, Walmart, and McDonald's are cutting prices and offering deals to attract shoppers

From CNBC: 2024-05-22 15:17:37

Target’s weak quarterly earnings reveal struggle to attract bargain hunters, in light of heightened competition for shoppers’ wallets. Walmart increased grocery “rollbacks” by 45% year over year, and Aldi and McDonald’s dropped prices. Consumer prices continue to rise over 3%, prompting business price cuts. Target aims to drive traffic by lowering prices on thousands of household staples. Walmart sees growth in online and in-store purchases. Target emphasizes value and plans to reverse sales decline in Q2. Target’s new private brand, Dealworthy, offers low prices on basic items. Company plans to introduce cheaper seasonal items like pool noodles and coolers soon.



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