Retailers reducing prices on thousands of items
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- Опубликовано: 1 окт 2024
- Some companies, including Target and Michaels, recently announced they're slashing prices on thousands of items that were seeing higher costs due to inflation. According to the Labor Department, groceries and other household items are cheaper now than last year. CBS News contributor Javier David has more on the trend.
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Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Ah, so it wasn't inflation... it was corporate greed.
Always was. No doubt.
I’m pretty sure I know what you mean but price inflation just means higher prices. Greed is just one standard factor for inflation. Also for deflation - for example it is a reason people might not tip a worker, because they feel the worker should be paid $7.25 per hour or whatever minimum wage instead of whatever they would make with tips. Tipping for instance allows greedy people to not pay as much as if a good wage were baked into the price
Did you not see the CPI reports?
Another election year scam. They will go back up when potato is in office again
The supply shortage and wholesale cost excuse is a bold-faced lie. The record profits grocery stores keep reporting each quarter is indication of that. It's price gouging plain and simple.
I agree. The financial reports don't lie.
Definitely agree with your statement
Maybe if they didn't spend so much on executive salaries, stock buybacks, lobbyists, and golden parachutes, they could pay reasonable wages to their employees and not overcharge customers so much.
So reducing the prices back down to what it was initially before price gouging? GTFOH
not even. It's still above the prices before.
Inflation is not price gouging lol. Thank Biden.
@@Jack-fr9bkif they can afford to reduce the prices even with inflation continuing that means it’s price gouging 😴😴
@@TheMidniteAshes No, it doesn't. You did you know Costco sells every rotisserie chicken at a financial loss.
@@Jack-fr9bkthe variables of inflation is global.
Too late. Thanks for raising the prices so high that I realized I don’t need half of that stuff anyway. I’ve learned to live without it now.
True
Everyone keep not spending! Cut your spending to the bare minimum so these companies are forced to bring prices back down to normal. That’s the only way to stop these companies from gouging us and trying to take everything from us. Keep fighting, stay strong together!
Yup. We have to get tired of working so hard to just pay for the essentials & not even afford a home. I'm tired of it & our family is working together on less spending & no vacations this year.
@@Liz-fw3xi Agree. Yesterday I did something I've never done before...I stopped at a McDonald's because hunger weakened my resolve not to eat fast food, ha. Ordered off the so called $ menu. When the total was shown I politely told the worker that the total price was more than I anticipated, and because no one was ahead me, I told her I was just going to drive thru without purchasing anything. She was extremely gracious, no Karen there. So I ate at home like I should have in the first place. Lesson learned for good this time.
Total b.s. record breaking profits for corporations, can't spin your way out of that m
It can be both: if retailers cut prices 5% but sell 50% more, then customers got lower prices AND the company made more in profit.
Problem isn’t as simple as corporate greed when millions own shares in the company and will sell if their future quarterly report doesn’t show promise.
I agree. These people are full of it.
@@mehnameehjeff6325millions may own shares but the difference between the ones that own millions of dollars in shares compared to the ones at the bottom that own very little is where the issue is at. The ones that own the most dictate what happens.
Bidenomics
Stop spending! Make them keep lowering.
These companies were PRICE-GOUGING out of greed!
It's called inflation, now we are looking into a deflatio/recession
Price gouging only works if you have a monopoly on thing thing you're gouging, or else competition will sell it for less and take up your market share
WERE? They still are and will continue to do so as long as they can get away with it
Why does McDonald’s get free national news for $5 meal when Wendy’s has had the same thing for years at $4 😂
Because CBS News didn't like that story
Looks like people have had enough of getting their pockets picked by corporate America.
Pockets have had enough, its call deflation/recession
@@AA-mc6rl There isn't any recession. You may want one for some partisan political reason but there isn't any.
@user-qn4zh2pw6m well its either, and a Target problem, consumers shopping shifting, or deflation. Which one is it?
@@AA-mc6rl As ramifications of the post pandemic supply issues subside supply is increasingly meeting demand. A good historical comparison is post WWII when inflation reached 15% and it took a few years to pivot back to consumer products from military production.
@user-qn4zh2pw6m it can be, but honestly, 4 years is way too far. We agree its a supply/demand deal. But what is the reason? Covid affecting supply/demand? If anything like that I would say; change in spending behavior and Target got affected
Hold the line make them drop prices more.
GAS WAR
Exactly! If everyone stops spending on everything but the absolute bare minimum watch how quickly these companies “suddenly” be able to lower prices.
Protest with your purchases!
Don't worry, the economy handles everything
Only buy what you absolutely must until prices continue to fall. We must stick together on this.
I go to grocery store that’s it.
That is what my 71 year old dad has been doing all of his life
This right here! If we stick together, we can bring down inflation. Buy only the bare necessities, folks! Close up those wallets as much as you can!
I'm with you on this one
I'm on board!
They got caught with their greedflation and are readjusting their prices to be correct.
Look at the Purchasing Managers Index. They are doing this for two reasons. One, demand is slowing and they are going to be stuck with inventory. Two, revenue is slowing and they can't meet their projections for shareholders. They do not give a crap about the consumer.
BINGO!!!
Let's call it what what it is... greed. Manufacturers and retailers inflated prices and customers choose to shop elsewhere
Thats a dumb business move, why raise prices and push away your consumer base and risk going out of business?
@@Danielbboylight I don't know but wonder if it works because all their competitors are doing the same, giving consumers little choice but to pay more? I've cut back as much as I can because I can no longer find "deals" anywhere. I really miss my BACON😀
I call BS.
YES, IT IS GREED.
Stop trying to fool people with your bs.
It's bidenomics
@@alk3078 elaborate on your hypothesis please
@@brownbanana18 Go to the grocery store with your Mommy and you will understand
@@alk3078 why does it have to be with my mommy? Is this like your daddy Trump who paints reality for you?
@@brownbanana18 ask your grandfather "biden" he better knows everything buddy 😁😁😂😈😄😃
Why's this guy running defense for corporations making record profits. One doesn't increase profits by simply passing on costs. One must mark up the costs.
He literally referred to McDonald’s franchises as “small businesses” lmao 😂
@@AnotherhumanexistingRight? Isn't it 1 million plus for a franchise?
What channel is he on and who are their partners
@@zo62 wwe & aew 😁😀/brazzers partners 😧😦😁
Sad this man is boot licking so hard for corporations. How much are they paying you sir?
Ask your "dad" sir 😦😥😈😂
@@Rajyalakshmi-mm1zx?
@@TheMidniteAshes just ignore sir..😦😥
@@Rajyalakshmi-mm1zx admit yourself
@@TheMidniteAshes why do i 😁😂😈.. u are less matured "kid"😁😂...
McDonald’s needs to keep their prices high because that the only way I stopped eating there
When you hear the CEO of Procter & Gamble saying,"Inflation is good because you can pass the additional cost to consumers but also raise prices," you know there is price gouging.
However, consumers are also responsible for accepting these prices. If you think that they're asking is too much, why would you get it?
Companies are not your friend, it's a business. Their only goal is to make as much money off of you as possible. If you are willing to pay more, they no problem charging you more.
Greed drives most of it. Home Depot charging $45 for a 12x16 brown tarp when I can get two of them from Costco for $20. Pure greed!
Exactly.
@@itgetter9 why fast food went up for 4-6$ yet resturant food only rose up a bit like 2$? (Aside from meats wich are 10 extra) Mhhhhh??Wonder whyyyy?
@@gsst6389 IKR?!
Oh look! It's as if people can't afford anything anymore and companies are admitting they have just been greedy this whole time!
I've been hearing about Target reducing prices so I went in there yesterday. Price reductions are not significant and prices looked the same to me. Maybe the prices are on food items. I don't buy groceries at Target.
Didn't notice a difference myself either, then again I barely shop at Target.
Sounds like Stagflation to me, the reason they are lowering prices is because the general public has no Money. There is a broad lack of Demand.
These companies are still having all time profit margins. Walmart just posted record profits in the last two quarters. Walmart says that it's atributed to high end shoppers. I don't believe that. Their prices continue to surge for the customers. I started going back to Aldi, because Walmart is just too expensive.
I go to Aldi too
@@roymani3446 why?? For bathroom cleaning 😣😯😉😃😂😁
They’ve could have done this years ago! It’s all about greed!
It should come down to 2019 pre pandemic prices
Javier seems to like doing free PR to these greedy corporations who don’t pass their record profits to benefit consumers. 🙄
Everyone should become minimalists the less crap we consume the better.
Too late! We have gotten used to do without!
I agree ☝️
But there's a difference between raising prices by 2%, 5%, even 10% and SKYROCKETING Prices up by 40%. If a Brown Bag Special from Sonic was $9.99 in 2021, and the price today at the same store, same location (and presumably the same amount of food, though that burger may have SHRUNK) is $15.99, that's WAAAAAAAY MORE than a simple price raise... that's a 62% increase in less than 3 years!!!!!!!!!!!!!!!!!!!!
So don't EVEN try to tell us that #Greedflation is not a factor in that severe level of price hike.
Argh stop the lies already! Target missed their earnings and the stock price fell. Now they are trying to woo the customers back.
We reduce our spending to them.
In the Philippines a Big Mac meal costs around $5 (when converting from the local currency).
They're lying. They can afford it. They charge whatever people are willing to pay. Plain and simple.
The cost of labor is factored into that though. They're paid much less than the US
@@dannylengyel5830 Yes, but the point is, they can afford to lower the price on at least a few kinds of meals... which is why some chains are finally doing it now.
Yea from 6.99 to 5.99😂
It’s about time! Corporate greed is out of hand.
its only .15 cents... don't say its "about time" gotta keep strong and not give them a pass!
Bidenomics
@@tnnsboy18. Not giving them a pass, but this little bit can help people in need.
@@alk3078. What about it?
@@rt-420 Don't play stu pid. It's not a good look
Same things happened with cars, they raised prices so much it changed buyer behavior
Many companies, like Egglands Best, have had record profits the past 2-3 years. Not sure how they are enduring higher costs if that’s the case? It’s just greed.
That is why they call all these people fake news. They really think we are stupid. I am paying more and more at the grocery store week after week. I can't even go out to eat anymore despite working on two jobs.
that's because they now have overstock and everything is going to expire so they have to sell it at the normal price.
The propaganda is so crazy. I can't believe I used to drink this water.
"Grocery Prices are Cheaper now according to the Labor Dept" Seriously? They went down 0.2%, that is two tenths of one penny on the Dollar, if you spent $50 you would "Save" 10 Cents, not really "Cheaper"
People are just fed up.. or they’re broke
Sooooo.....they "reducing" price back to normal? Still seems pretty high tho
Only buy the bare minimum!! Lol. Make these disgusting corporations lower the prices even more!!!
It all will fail, due too inflation, it's not just penny candy or the price of lunch meat or no fruit filling in lunch pies, it all disappears, the price point for Hamburger and fries will soon fail
It's price gouging and corporate greed plain and simple
It's Pure Greed!!! Brand loyalty Ha! I'm more concerned about what I Can Afford to buy! And it's Less Every Day!
Oh...so theft wasn't the issue??
Yes ,cheaper now than last year but still.... Way Over priced.
“Lower” prices? No, they probably noticed brands just made the product smaller, or weight less
I wish people would just call this "class warfare" already. The rich are doing great.
Forget what he's talking about. I'm here for deflation. These prices must come down!!!
If everything for these corporations went up how can they still have record breaking quarters? Somebody lying smh
Keep the prices LOW on NECESSARY ITEMS
Hire MORE workers...One or two in every isle cleaning and stocking and several behind the counter ready to checkout people.
have shift supervisors and floor management on hand to OVERSEE said floor...
THIS is how you get MORE money WITHOUT screwing your customers!
Why is this not a thing anymore?!
The Labor Department is smoking funny cigarettes. Better now than last year? Not feeling it. No longer filling my gas tank, no longer buying meat and even certain veggies, reduced clothing allowance to zero, no car repair unless vital, etc. All I can do to fight this is keep my money in my checking account rather than spend it. When this is all over tho...IF it ever ends...I've learned valuable lessons about what I need and what I just want. Hang in, all. And keep your money if you can.
TOTAL BS! I was shopping in Target this morning, why I did not see any reduction in prices?!
so as we have been saying, its not inflation its corporate greed. And people are buying less.
They don’t have a choice ppl are starting to live off the free good God given earth the Lord blessed us with
The real reason is that people stop buying.
Sure Rich People can still afford their "Luxury Items". Corporate Media is so funny, such a Joke.
As someone who moved from the US to Europe, I can, in full confidence, say that Americans are getting railroaded when it comes to prices at the grocery store. The prices here are so much lower, for regular everyday items. Just yesterday, I paid less than $1 (the equivalent of) for 6oz container of fresh Driscoll's Raspberries, less than $1 for a 5.2oz bag of baby spinach, less than $5 (the equivalent of) for a FRESH WHOLE (non-GMO) Chicken (4.4 lbs). In total I bought 16 items & paid less than $14. Just out of curiosity, I checked how much these items would cost at the grocery story I used to shop at when I lived in the US & no surprise, everything I checked was basically 3 or 4 times more expensive in the US.
What goes up must come down.
Like what the reporter said, " A TREND" than prices will go back UP again after Memorial Day weekend!
No one is falling for this disgusting tactic/ploy. We all know that the stores raised the prices, now they are slightly lowering them. However the prices will NOT be going back to 2001 prices. 😆😅
If only Americans had the discipline to only buy what they need... Greedflation would have died long ago... From time to time people just need not buy anything, until their cabinets are bare
So why can’t corporate lower their fees to franchises? The. Franchises can lower price? To say it’s a small biz, is a cop out. The corporate office should help but they don’t.
30-50% price gouging since 2020. We are tired of it. There are things we are just going to learn to live without and that’s that.
More likely because these are publicly traded companies and for several quarters now it's obvious that yes there was inflation but also yes these companies took it upon themselves to raise prices beyond that. They do this because they know all other retailers will use this excuse. But after several quarters of blockbuster earnings it's clear that they over priced. Which means the companies are more exposed to class actions because class action lawyers have been waiting for the green flag. So the companies need to head off that problem. Also, this is a major election year so politicians have to pretend to do work unless you're Ted cruz. Companies know this and will try tactics to quell unhappiness at least Until November 5th when politicians go back to their lounge chairs.
Sir it may not be greed some for indeed it is for many... How are you are retailer having record highs in profits and the consumer is struggling to continue to participate in the marketplace... Lets cut just it.
The funny thing is they could have been had affordable and reasonable prices on things. Instead they chose to raise prices with everything else, passing extra expenses off to consumers etc.
What in the cope. Was this segment paid for by Walmart?? The root cause of all of this is greedy corporations.
I love that they’re like it’s not greedflation. Then after this announcement from target they released their financials and buried in there is the fact that their profits were up almost 50%.
Prices remain incredibly high all-around Las Vegas.
Government needs to subsidies the price of gasoline and charge us 1 dollar a gallon.
It’s the oldest trick in the book…. Raise prices by a lot then lower prices by a little
😂😂😂 greedflation is p*ssing people off, at least some companies are paying attention
Not in Canada. The prices on outdoor furniture still too high.
Increasing prices by 15% and reducing it 1% is a scam.
They are just gonna say it’s reduced but it’s not gonna be a reduction
Soon, its competitors will also follow suit: Walmart, Kroger, Publix, Albertsons, Pigley Wigley, dollar stores, etc.
In other words… “we *were* price gouging you.”
Hahahahahahahahahahahhahah!
It's about time! If we all push back this is what we will get!
i think we need stop going these places let them fail
Sure they are going to reduce the prices AND reduce the quantity at the same time!
Wait, are you really trying to get us to be happy that target has decided to lay off of the hyper inflation they created and lower the prices to normal levels 😤
Yes that's what it seems like. I will NOT be giving Target my hard earned dollars ANYMORE!
Believe this bs if you want to.
Go to San Fran, you can get away with under $1,000 of merch and not get in trouble then go to the next store to do same.
He said the math doesn’t math 💀
Good Luck
Another advertisement for Bidenomics before election, but I don't see any significant price drops in my area.
Costco reduced the buttermilk bread price by 40 cents
You mean GOUGED PRICES coming down to actual fair market prices 🧐
I knew corporate greed was the reason
Reducing prices? So they intentionally just raised the price? So they must have filled their pockets enough.
27.00 plus tax for a 10 ft by 16 ft tarp at target, in the camping section. 8 or $10 at home depot?
When will Target lower the prices?? I shop there yesterday & didn't notice any discount!! 🤔 🛒🛍
Thanks Joe Biden
It is Trumps fault and not Joe Bidens fault. The pandemic happened under Trumps watch