this post was submitted on 03 Nov 2023
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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.

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[–] zeppo@lemmy.world 287 points 1 year ago (23 children)

No shit. Groceries have gone up 40% in the past 1-2 years for no real reason while wages have not and things like housing are going up too. Amazing that people would be buying less 'units'.

[–] ohlaph@lemmy.world 97 points 1 year ago* (last edited 1 year ago) (2 children)

No doubt. I'm starting to eat healthier because a bag of Doritos is like $5 now when I used to buy it for $2.50-3.00. That's just one example, but across my snacking 'units', everything is outrageous.

I'm eating less and healthier 'units'.

[–] Catoblepas@lemmy.blahaj.zone 13 points 1 year ago

A lot of stuff I used to consider splurge items at Trader Joe’s are now the same price or cheaper than regular brands, it’s ridiculous.

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