Target to offer some items starting at less than a dollar under new private-label brand

By Thomson Reuters Feb 15, 2024 | 8:17 AM

(Reuters) – Target said on Thursday it will offer some everyday essentials at prices starting less than a dollar as part of the retailer’s new private-label brand.

The move comes at a time when value-conscious customers are increasingly opting for cheaper private-label brands as cost-of-living pressures strain household budgets.

Prices of products such as apparel, cosmetics and electronic items that are housed under the private-label brand, known as dealworthy, will start from less than $1, with most under $10, Target said, adding that the goods will arrive in stores and on Target.com this month.

“We know that value is top of mind for consumers and dealworthy … will not only appeal to our current guests but position us to attract even more new shoppers to Target,” Rick Gomez, Target’s executive vice president, said.

A Labor Department report on Wednesday showed U.S. consumer prices rose more than expected in January amid a surge in the cost of rental housing.

Rival retailers such as Walmart and ecommerce giant Amazon.com also have low-price brands targeting customers looking for bargains on food and household items.

(Reporting by Savyata Mishra in Bengaluru; Editing by Shounak Dasgupta)