Consumer
Target Results Show Shoppers Willing to Spend If Price Is Right
- Retailer uses lower prices to break series of sales declines
- Consumers prioritize necessities, deals over big ticket items
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Target Corp. ended a string of quarterly sales declines by focusing on cutting prices on essential goods, winning over inflation-hit consumers who are pulling back from other retailers.
The Minneapolis-based company’s comparable sales, a key gauge of retail success, rose for the first time in more than a year in the second quarter. Shoppers returned to Target stores thanks to deals such as $15 bras and $1 pool noodles, as well as price cuts on essentials like milk and bread.