Skip to content
Breaking News

Breaking News

  • Home
  • World
  • Business
  • Health
  • Entertainment
  • Life Style
  • Sports
  • Toggle search form

Price cut wars: Walgreens follows Target and Walmart, slashing prices on 1,500 items

Posted on May 30, 2024 By Admin No Comments on Price cut wars: Walgreens follows Target and Walmart, slashing prices on 1,500 items


For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails

Sign up to our free breaking news emails

Walgreens has become the latest retailer to try to lure customers with new deals, slashing prices on 1,500 items.

The cuts will impact everything from snacks to toiletries and even Squishmallows, Walgreens announced Wednesday, as it follows the lead of other major brands including Amazon, Walmart, Target and Aldi, which have all reduced prices in recent days.

A jar of One A Day gummy vitamins will now cost $11.99, down from $13.49, while the price of a bag of sour cream and onion potato chips from the Walgreens-owned Nice! brand now costs $1.99, down from $2.79. The price of a 16-inch Squishmallow plush has gone from $24.99 to $20.

Brand-name and store-brand products, including Walgreens’ health and wellness, personal care and seasonal lines, are also included in the price cuts. The price cuts will apply in stores and online.

“Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials,” Tracey D. Brown, Walgreens’ retail president and chief customer officer, said. “We continue to be committed to our customers by lowering prices on over a thousand additional items, something we’ve been doing since October of 2023.”

Walgreens, which operates nearly 9,000 locations across the US, has been cutting prices since October.

Walgreens has become the latest retailer to slash its prices
Walgreens has become the latest retailer to slash its prices (Copyright 2024 The Associated Press, All Rights Reserved)

The move comes after brands such as Amazon, Walmart, Target and Aldi announced they were slashing prices in order to boost sales amid persistent inflation.

Target announced plans last week to reduce prices on 5,000 popular items throughout the summer, ranging from everyday grocery items to household essentials.

Amazon Fresh is also discounting 4,000 items—both name brand and its own brand products—by up to 30 percent across its online and in-person stores.

This will include frozen food, seafood, meat and pasta, though the selections will rotate weekly, according to CNN.

Meanwhile, Walmart has cut prices on nearly 7,000 products across food categories, Walmart US CEO John Furner said in an earning call this month, though he did not specify which products have had prices slashed.

Aldi also announced plans earlier this month to cut prices on more than 250 items, including meat, frozen foods and snacks. The discount supermarket chain said they hoped the decision would “pass along $100 million in savings through Labor Day.”

The Biden administration has been putting pressure on retailers to lower their prices amid persistent inflation in recent years. Following Target’s announcement, the White House tweeted: “President Biden called on grocery chains making record profits to lower prices for consumers – and they’re answering the call.”

Consumer costs are 20 to 30 percent higher than they were three years ago, according to CNN, with inflation still above pre-pandemic levels.

Sarah Wyeth, managing director, retail and consumer with S&P Global Ratings, told CNN that income has failed to rise in line with price hikes, presenting a challenge to retailers.

“There’s just less dollars for consumers to spend,” she said, adding that retailers must now shake consumers out of a frugal mindset.



Source link

Business

Post navigation

Previous Post: Singer-songwriter Huey Lewis on seeing his songs come to life on stage
Next Post: Bird Flu Has Infected a Third U.S. Farmworker

More Related Articles

Labour’s Rachel Reeves rules out increasing income tax or NI Business
Full list of Wilko stores at risk of closure as firm files for administration Business
Watch: Delhi Traffic Cop Takes Rs 5,000 From Korean Without Issuing Receipt; Suspended Business
US Fed Cuts Interest Rate By 50 bps, Jerome Powell Says Upside Inflation Risks Have Diminished – News18 Business
Braithwaite secures Rs 180 crore order from railways to supply 500 wagons – Times of India Business
Caretaker govt pushes petrol, diesel prices to record high with up to Rs26 hike – SUCH TV Business

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • Woman declared dead by coroner, moved to coffin, turns out to be alive
  • Shohei Ohtani reacts to death of Japanese baseball legend Shigeo Nagashima: ‘May your soul rest in peace’
  • Thames Water nationalisation ‘not the answer’ says minister after rescue bid fails
  • “Family Guy” creator Seth MacFarlane on his other love: Sinatra
  • Gilgit-Baltistan reports first case of poliovirus in toddler

Categories

  • Business
  • Entertainment
  • Health
  • Life Style
  • Sports
  • World

Copyright © 2025 Breaking News.

Powered by PressBook Blog WordPress theme