Target to lower prices on thousands of items

[Ferguson97]

To me, it also adds credence to the argument that corporations have much more control over prices than they let on or that the public realizes.

I mean yeah, you're right but not in the way that you think.

They have the power to lower prices when they realize that they're too high and aren't selling enough to make a profit.

The price of a product is whatever someone is willing to pay (contingent on there not being supply shortages or monopolies, etc.)

If they sell their TVs for $1, they'll be at a net loss since TVs cost more than $1 to make.

If they sell their TVs for $4,000, they'll again, be at a net loss, because that's way too high for 99% of people, and even the ones they do sell won't be enough to make up for the costs.

The businesses need to find the price that results in them making the most amount of money possible. Finding this number is literally some people's entire job.

Target has evidently discovered that they number they were previously setting were too high. So they lowered them.

[Fmr. Pres. Duke]

To me, it also adds credence to the argument that corporations have much more control over prices than they let on or that the public realizes.

I mean yeah, you're right but not in the way that you think.

They have the power to lower prices when they realize that they're too high and aren't selling enough to make a profit.

The price of a product is whatever someone is willing to pay (contingent on there not being supply shortages or monopolies, etc.)

If they sell their TVs for $1, they'll be at a net loss since TVs cost more than $1 to make.

If they sell their TVs for $4,000, they'll again, be at a net loss, because that's way too high for 99% of people, and even the ones they do sell won't be enough to make up for the costs.

The businesses need to find the price that results in them making the most amount of money possible. Finding this number is literally some people's entire job.

Target has evidently discovered that they number they were previously setting were too high. So they lowered them.

Maybe some supply chain issues are working themselves out now. I was surprised at how many "new low price" signs I was at WFM today. The prices of pretty much everything I bought had a sign touting the lower price. Definitely noticed egg prices have come down too.

[emailking]

Hopefully the lower prices on their gift cards.

[Yoda]

Corporations have quite simply reached the limit on what low income Americans can afford to pay. As has been pointed out by others, this proves to some degree how inflation in recent years really has been due to corporate greed. Biden was, unsurprisingly, correct about this.

[dead0man]

Corporations have quite simply reached the limit on what low income Americans can afford to pay. As has been pointed out by others, this proves to some degree how inflation in recent years really has been due to corporate greed. Biden was, unsurprisingly, correct about this.

so they are less greedy now?  Corporations don't change how greedy they are, they are always 100% greedy as they can get away with thus that can't possibly affect inflation.  Inflation is due to there being too much money.

[Pres Mike]

Corporations have quite simply reached the limit on what low income Americans can afford to pay. As has been pointed out by others, this proves to some degree how inflation in recent years really has been due to corporate greed. Biden was, unsurprisingly, correct about this.

so they are less greedy now?  Corporations don't change how greedy they are, they are always 100% greedy as they can get away with thus that can't possibly affect inflation.  Inflation is due to there being too much money.

Perhaps we shouldn't base public policy on how greed corporations should act. Perhaps we should regulate how corporations respond to government policy, not the other way around.

[SInNYC]

OK, I'm going to save all my Target receipts from the last month and compare them to next month.

My guess based on their behavior the last few years is that they have raised prices (sometimes astronomically) from x to y, and they will reduce it from y to something close to y and far from x. They get good press out of it and might increase sales from those with short memories.

As long as they (and others) have an excuse to raise prices and increase profits, they will.That excuse was covid and supply lines, though it continued well after things returned to normal.

[It’s so Joever]

It's giving recession vibes!

Yes, and I am glad you seem happy about it. This job market is f**king terrible.

What? With unemployment under 4%?

That is not the reality I am facing right now nor many recent graduates. And yes I know people who graduated in 2009 had it worse, but this isn’t a suffering Olympics. The fact is, the job market is increasingly slowing down and the current reality isn’t great for millions of Americans.


https://www.bloomberg.com/news/articles/2024-05-20/first-covid-disrupted-their-college-years-now-the-class-of-2024-can-t-find-jobs

[lfromnj]

Thx for the post, put debit spreads should pay off

[KakyoinMemeHouse]

Pretty big defeat for Trump, completely destroys his narratives about inflation.

[Steve from Lambeth]

Hopefully the lower prices on their gift cards.

You say this, but it's interesting how wide the chasm between discounting strategies in the US (for all customers) and Europe (for loyalty cardholders only) is. There was no chasm until circa 2020, when Lidl Plus debuted and everybody else wanted a piece of the pie, but as Lidl and indeed all other major European supermarkets - other than Aldi (ironically the one UK supermarket not to offer loyalty discounts) - are functionally non-existent in the USA, this gambit doesn't seem to have caught on there.

[DaleCooper]

It's giving recession vibes!

Yes, and I am glad you seem happy about it. This job market is f**king terrible.

What? With unemployment under 4%?

That is not the reality I am facing right now nor many recent graduates. And yes I know people who graduated in 2009 had it worse, but this isn’t a suffering Olympics. The fact is, the job market is increasingly slowing down and the current reality isn’t great for millions of Americans.


https://www.bloomberg.com/news/articles/2024-05-20/first-covid-disrupted-their-college-years-now-the-class-of-2024-can-t-find-jobs

It's been an escalating problem for years now. No one is willing to train their employees anymore, even for entry-level positions.

[GAinDC]

Pretty big defeat for Trump, completely destroys his narratives about inflation.

Falling inflation combined with Target and other retailers lowering prices is definitely good for Biden. I wonder if the WH had any hand in pressuring these chains to lower prices.

[GAinDC]

Amazon is lowering prices on 4,000 items

https://edition.cnn.com/2024/05/24/business/amazon-fresh-price-cuts-groceries/index.html

[emailking]

I hope Am lowers the price on their dried blueberries, the increases the last year have been killing me!

[Agafin]

So Amazon, Walmart and target have all lowered grocery prices? That seems like really good timing for Biden.

[Inmate Trump]

It's giving recession vibes!

The difference between Republicans and Democrats.

Republicans want the president (and the country) to fail if he/she isn’t one of them.
Democrats hope the president doesn’t fail, even if he/she isn’t one of them.