Target is ramping up discounts. Here's why

[IronLionZion]

https://www.cnn.com/2022/06/07/investing/target-discounts-stores/index.html

New York (CNN Business)Target is stuck with too much home decor and too many TVs. To clear out the glut, it will ramp up discounts.

The retail giant said Tuesday that it would mark down prices on some bigger-ticket items that consumers have pulled back on purchasing and cancel pending orders from suppliers.

Target and other big-box retailers stocked up on a wide array of merchandise such as electronics and furniture throughout the pandemic to respond to red-hot consumer demand.

But many shoppers in recent months have altered their purchasing choices in response to the fastest jump in inflation in decades and the end of federal government pandemic stimulus payments.

Consumers are making fewer high-end purchases and buying more necessities like food, household staples and self-care items.

Sounds like our economy is downshifting

[Johnny2X2X]

1. Self fulfilling prophecy

When all people hear 24 hours a day is Inflation, inflation, inflation, all they think about at the store is cutting back.

When in fact, no conversation about inflation is complete without mentioning the 6% wage growth we've seen the last year, that is negating most of the effects of inflation on people's budgets.

[JustAnotherGen]

2. This

[IronLionZion]

3. Higher wages and cutting back on spending

should boost savings. That's a good idea if our economy is heading for a recession in the near future. It could be more of a correction in some sectors.

[Bluethroughu]

4. Our economy went into high gear when the working poor made $600

A week...$2400 a month. They had discretionary money at the end of the month and no second job to run to.

Minimum wages need a boost and price gouging needs to be prosecuted.

[Samrob]

5. It's 15% inflation, 85% gouging.

If anyone can find that video of a group of CEOs talking about their "pricing" strategy and much room they have to continue to increase prices, please post it here. I am looking for it also.

[keithbvadu2]

6. Shopping online at Target

If you shop stores online (from a blog)
.

A money-saving tip if you shop Target online and have items shipped.
The price of the item can be different at different stores, and you can choose to order from any store in the country.

My protein shakes cost 22% less if I choose a Target in various other towns and states, rather than the Targets near my home.

Shipping time is the same, so obviously they're shipping from the facility closest to me that has the stock.

I just thought this was interesting enough to share.

(I haven't checked other websites to see if they're similar.)

[durablend]

9. It's called zone pricing

[keithbvadu2]

11. I like the idea that someone figured a way to use it.

[poli-junkie]

7. Price of gasoline a major

factor in people dialing back spending. It costs about $100 to fill up my car now — crazy!

[IronLionZion]

8. Free marketeers claim they would increase production when prices are high

but oil companies have chosen to enjoy record profits instead

[Hugh_Lebowski]

10. Weird how that works, isn't it? (nt)

[dalton99a]

12. People need gas and food, not a faster PC or a cellphone with 10 cameras