NEW YORK (AP) — Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather. Major retailers are stepping up discounts heading into the summer months, hoping to entice inflation-weary shoppers into opening their wallets.
Target, Walmart and other chains have rolled out price cuts — some permanent, others temporary — with the stated aim of giving their customers some relief. The reductions, which mostly involve groceries, are getting introduced as inflation showed its first sign of easing this year but not enough for consumers who are struggling to pay for basic necessities as well as rent and car insurance.
The latest quarterly earnings reported by Walmart, Macy’s and Ralph Lauren underscored that consumers have not stopped spending. But multiple CE0s, including the heads of McDonald’s, Starbucks and home improvement retailer Home Depot, have observed that people are becoming more price-conscious and choosy. They’re delaying purchases, focusing on store brands compared to typically more expensive national brands, and looking for deals.
Xi Congratulates Erdogan on Reelection as Turkish President
Xi Congratulates and Encourages Teachers and Students of Macau University of Science and Technology
Feature: Books on Xi's Thought Key to Understanding China
Trump hush money trial: Closing arguments, jury instructions and maybe a verdict?
Summer travel booms in country
Xi Congratulates and Encourages Teachers and Students of Macau University of Science and Technology
Xi Sends Congratulations to Micronesia's New President
Popular California beach closed after shark bumped surfer off his board
Heat waves expected to hover in central, east
Teenagers Yamal and Cubarsi included in young Spain squad for European Championship
Inside the world of China's insect explorers