Target reveals cheapest brand yet — with items starting below $1

Target is rolling out its lowest-priced brand ever, with more than 400 items, some for less than $1, to appeal to customers fed up with inflation.

The in-house brand, called Dealworthy, features “no-frills, everyday basics,” including essentials like laundry detergent, toothbrushes, underwear and cell phone chargers, Target said.

The company said most of its product line is less than $10, 50 percent cheaper than other brands sold at Target, which is based in Minneapolis and has about 1,900 stores nationwide.

“We know that value is a top priority for consumers. Backed by our brand promise, Dealworthy not only appeals to our current guests, but also targets even more new shoppers. We are in a position to attract,” said Executive Vice President Rick Gomez. Chief Food, Essentials & Beauty Officer at Target; said in a press release.

Target announced plans to roll out Dealworthy in February. Dealworthy is his newest in-house brand designed to appeal to budget-conscious shoppers, with most of his sub-$10 home goods. the goal

The pandemic has left Americans facing stubbornly high prices even as the Federal Reserve struggles to keep inflation to 2%, keeping interest rates at their current 22-year highs. I am troubled.

The latest consumer price index, which tracks changes in the cost of everyday goods and services, rose more than expected by 3.1% in January, prompting the first of three highly anticipated interest rate cuts to take effect early. Hopes of that possibility were dashed. Like this spring.

“We know that value is a top priority for consumers, and Dealworthy, backed by our proprietary brand promise, will not only appeal to current customers, but also attract even more new shoppers,” said Gomez. “We will be in a position to attract customers to Target.”

Dealworthy replaces Target’s Smartly brand, which primarily focused on household essentials, personal products and skin care products. According to CNN.

Smartly, now discontinued, was “supposed to be Target’s low-priced brand, but its weak selection and odd positioning meant it failed to capture shoppers’ attention,” a retail analyst said. Neil Saunders, listing and managing director, said: GlobalData Retail told his CNN.

Meanwhile, Target’s fellow low-priced brand Up & Up (which also includes household, beauty, baby and pet products) will be revamped and sold at a slightly higher price point than Dealworthy products. .

The 2,000 items in the Up&Up line have been upgraded to meet “higher quality standards” and are priced under $15. Announced goals earlier this week.

With the introduction of Dealworthy, Target is discontinuing its discounted Smartly brand. Meanwhile, the company's
With the introduction of Dealworthy, Target is discontinuing its discounted Smartly brand. Meanwhile, the company’s “Up&Up” brand will be revamped and will be priced higher than the Dealworthy line. alamy stock photo

Representatives for Target did not immediately respond to The Post’s request for comment.

In-house value brands target competitors like Amazon, which offers AmazonBasics private labels at discounted prices.

But even Dollar General has struggled to turn a profit. The Tennessee-based company’s third-quarter net income was $276.2 million, down 47.5% from a year ago, according to its most recent quarterly earnings report released in December.

Dollar General also warned Wall Street that profits could plummet due to increased thefts at its 19,000 U.S. stores and weak consumer demand.



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