Target CEO says shoppers are pulling back, even on groceries
Target CEO says shoppers are pulling back, even on groceries
Target is doubling down on its cautious outlook as it prepares for the holiday shopping season.
Target CEO Brian Cornell says shoppers are pulling back, even on groceries, as they feel stressed about their budgets.
In an interview with CNBC’s Becky Quick that aired Thursday morning, he emphasized that the retailer has posted seven consecutive quarters of declining sales of discretionary items, such as apparel and toys, in terms of both dollars and units.
“But even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” he said in the interview.
They are finding the stone is running out of blood.
Damn who could've predicted that the price of even basic groceries skyrocketing up while wages stay stagnant (again) would discourage people from buying more things. It's almost like they don't have the money ...
In a society that deletes the middle class, prioritizes the oligopoly in which three fucking people own more than the bottom 50% (in 2017, before the great covid wealth transfer), and every goddamn product (necessity or no) is overpriced to fuck because a handful of companies owns the majority of the "competitors".....
it's almost like people CAN'T AFFORD to not "pull back" on even groceries. Fuck capitalism, fuck the oligopoly, fuck this fucked planet. Humanity is a cancer
I live in a country where wages are linked to a central index.
The index measures how expensive life is becoming. If the prices of products and services rise, the index rises accordingly. If the figure exceeds the so-called central index, benefits and wages will automatically increase.
So, this happened in October again and next month I'll have an increase of 2% in wages.
It's more complicated than that, but most countries should use this to protect at the very least handicapped, sick or unemployed people who live on benefits.
It's not much, but it helps in a way.
People just aren’t buying from Target
Among my peers (early/mid 20s to early 30s) everyone explicitly avoids grocery shopping at target because it’s so much more expensive than other big box retailers. Target is for the occasional home decor items or household items, but very rarely food in my experience.
When you wring the middle class for every spare cent they have, eventually money is going to stop falling out no matter how hard you twist them.
I forgot where I saw someone else suggest it... But if you really want to win over shoppers this Black Friday? Don't run a week of discounted TVs. Discount groceries.
Translation: they're buying their shit elsewhere because Target sucks and is overpriced
And then they turn around and blame thieves for closing their stores
Good thing they took some food prices out of the inflation calculation, problem solved pack it up boys.
Most people have an ever dwindling supply of money, while those at the top still believe that the only success metric is endless growth. These two experiences are incompatible.
The only time I buy groceries at target is when I go there for something else and find a bag of chips they dont sell at the grocery store.
When almost everything is more expensive (and often smaller portions) people can't buy as much.
Not just groceries either; rent, vehicles, property taxes, insurance, fuel, everything.
I always figured their grocery section would end up like their in-store pharmacy,, i e., no one would use it and it would end up a vestige of a failed business model.
It surprises me when I see people buy food from target since there are other stores with the same or similar quality items for cheaper. I don't think target has much value proposition from their own brands like Archer Farms (if that even is a target exclusive brand anymore).
If anyone sees this comment and shops at target for their groceries, would you mind explaining why?
Shit costs too much
Target is overpriced and so are their groceries
I guess maybe school loans should have gotten cancelled.
As for beverage (well, soda) sales, everyone's social circle is different, as for mine...usually people grab a water, iced coffee (bottled or poured) or energy drink at a corner, grocery or department store, etc.
I honestly cannot remember the last time someone I knew wanted to stop somewhere for specifically a Pepsi, Coca Cola or any regular soda product.
Even when eating out at a restaurant, if it is not alcohol, it's usually coffee and/or water.
maybe target sucks ass
Targets not really good for anything other than the Mossimo shirts and shorts.
The groceries are much more expensive than grocery stores near me I only get from there if desperate.
No, we just aren't shopping at Target. :)
Brick and mortar stores are still around?! Doubtful anyone uses them.
But we are cool, though. We are sending 100 billion to Ukraine, Israel and Taiwan. We can manage with a $100 for groceries for the whole month, but how will poor Israel be able to murder children if we stop funding them????
Edit: glad to know that I'm being downvoted by those who support Israel murdering civilians and children in Palestine. Please keep the downvotes coming. Fucking unbelievable. Downvotes don't mean shit on Lemmy, but it's good to see people's true colors.
So, even bougie moms are feeling the strain.
