Target, Walmart, and McDonald's are all cutting prices and offering more deals to attract budget-conscious consumers amid sustained high inflation. Target reported weak first-quarter results, leading the retailer to cut prices on thousands of household staple items. Walmart has increased its "rollbacks" by 45% in April and is introducing a new premium grocery brand with most items under $5. McDonald's is debuting a limited-time $5 value meal in late June as some consumers are balking at the prices of fast food. Target and Walmart are competing aggressively for shoppers, with Walmart reporting higher transactions and e-commerce growth, potentially gaining share from higher-income households.
Category
đź—ž
NewsTranscript
00:00 It's Benzinga and here's what's on the block.
00:02 Target, Walmart, and McDonald's are all cutting prices and offering more deals to
00:06 attract budget-conscious consumers amid sustained high inflation. Target reported
00:11 weak first quarter results, leading the retailer to cut prices on thousands of household staple
00:15 items. Walmart has increased its rollbacks by 45% in April and is introducing a new premium
00:21 grocery brand with most items under $5. McDonald's is debuting a limited-time $5 value meal in late
00:28 June as some consumers are balking at the prices of fast food. Target and Walmart are competing
00:33 aggressively for shoppers, with Walmart reporting higher transaction and e-commerce growth,
00:37 potentially gaining share from higher-income households. For all things money, visit Benzinga.com