Economy

Target promises cheaper prices, fewer sales

Target promises cheaper prices, fewer sales”

Target (TAIEX) said in a blog post that its aim is to focus on making items cheaper permanently - and doing fewer temporary sales promotions.

Target promised sweeping price cuts on thousands of grocery items and other consumables in a blog post written by chief merchandising officer Mark Tritton, according to CNBC.

Target is kicking the retail wars up a notch by lowering prices. Target added that it's nixing over two-thirds of its price and offer call-outs - i.e., those "Weekly Wow!" or "Bonus Offer" signs - in favor of clearer messaging.

The source of the growing competition in the supermarket industry can largely be put down to Amazon, who immediately announced significant price reductions to Whole Foods' range after buying the company out for $13.7bn in its latest acquisition.

Target's shares have since recovered, but the retailer's struggle to compete with the tech giant is far from over.

The discount retailer said its goal is to provide great everyday values so that guests don't have to wait for the right sale.

In May, Target said it's testing a program that would offer shoppers next-day delivery, something Amazon has offered its customers for years. So, still expect great sales, but also lower prices across the board.



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