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submitted 1 year ago by MicroWave@lemmy.world to c/news@lemmy.world

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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[-] krolden@lemmy.ml 20 points 1 year ago

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.

[-] dan1101@lemm.ee 19 points 1 year ago* (last edited 1 year ago)

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.

[-] Treczoks@lemmy.world 17 points 1 year ago

Are they pulling back in general, or are they "just" pulling back from Target?

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[-] escaped_cruzader@lemmy.world 15 points 1 year ago

Has America finally found the cure to obesity? Low wages and inflation!

[-] ODD@lemmy.eco.br 8 points 1 year ago

No, that's what made them obese in first place. Now it's the hunger formula.

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[-] some_guy@lemmy.sdf.org 15 points 1 year ago

Media: Recession didn't happen or it's over.

Media: Might be recession.

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[-] FlyingSquid@lemmy.world 14 points 1 year ago

True. No one here is buying their groceries at Target.

Maybe one day this town will get a Target and I can continue not buying groceries from it.

Meanwhile, the Krogers and Walmarts seem to have plenty of people in them.

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[-] ComradeWeebelo@lemm.ee 13 points 1 year ago* (last edited 1 year ago)

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?

[-] Birdie@thelemmy.club 10 points 1 year ago

I occasionally pick up food items from Target. It's less than a mile away, and if I am out of almond milk, I'll get it there rather than travel a longer distance. Sometimes I pick up a bottle of wine.

I've never done a full grocery shopping, however.

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[-] Dark_Arc@social.packetloss.gg 12 points 1 year ago

Maybe if they'd stop replacing all the name brand stuff with Target knockoffs that aren't as good, I'd actually do more shopping there. And you know, maybe if they didn't make everything a crummy, awkward, self checkout...

I'm spending plenty of money, just most of it is not going towards Target.

[-] afraid_of_zombies@lemmy.world 10 points 1 year ago

Somehow their checkout line has got the worst parts of Walmart and a Supermarket in one and I can't figure out exactly how they did that.

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[-] Desistance@lemmy.world 10 points 1 year ago

Shit costs too much

[-] pissclumps@lemmy.world 9 points 1 year ago

Target is overpriced and so are their groceries

[-] oakey66@lemmy.world 9 points 1 year ago

I guess maybe school loans should have gotten cancelled.

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this post was submitted on 03 Nov 2023
525 points (98.3% liked)

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