The news that Target plans to cut prices on about 5,000 everyday items made an especially big splash last week. In early May, grocery chain Aldi said it would cut prices on over 250 items. Walmart has noted in recent earnings calls that it's offering more discounts as well as lower prices in general on certain grocery items.
These announcements reflect companies' strategies to address consumer fatigue with inflation prices, potentially increasing sales volume by adjusting profit margins and enhancing perceived value through price reductions.
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