Target said on Thursday it will offer some everyday essentials at prices starting less than a dollar as part of the retailerâs new private-label brand.
The move comes at a time when value-conscious customers are increasingly opting for cheaper private-label brands as cost-of-living pressures strain household budgets.
Prices of products such as apparel, cosmetics and electronic items that are housed under the private-label brand, known as dealworthy, will start from less than $1, with most under $10, Target said, adding that the goods will arrive in stores and on Target.com this month.
âWe know that value is top of mind for consumers and dealworthy … will not only appeal to our current guests but position us to attract even more new shoppers to Target,â Rick Gomez, Targetâs executive vice president, said.
A Labor Department report on Wednesday showed US consumer prices rose more than expected in January amid a surge in the cost of rental housing.
Rival retailers such as Walmart and ecommerce giant Amazon.com also have low-price brands targeting customers looking for bargains on food and household items.
By Savyata Mishra; Editor: Shounak Dasgupta
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