February 20, 2024
As consumers continue to struggle with inflation, Target is unveiling a low-price, in-house brand it’s calling dealworthy, reports NBC News.
Target’s dealworthy products will start at less than $1, with most items coming in under $10, the company says. The retailer is marketing some 400 items under the label, including apparel and accessories, essentials and beauty, electronics, and home goods.
As an example, Target said some electronics-related items, such as phone cases, would be priced 50% lower than any other brands sold at Target.
Target is the latest major brand to recognize that consumers are balking at higher prices.
“We know that value is top of mind for consumers, and dealworthy, backed by our owned-brand promise, will not only appeal to our current guests but position us to attract even more new shoppers to Target,” said EVP Rick Gomez.
As with other Target-owned brand items, customers can return dealworthy products within one year with a receipt for an exchange or a refund.
Other retailers launching lower-cost in-house brands include Hanes, which recently unveiled “M,” a women’s shapewear line priced as low as $5.50; which compares with signature brand Maidenform’s prices of $40 to $55. And as of August, supermarket chain Kroger’s Smart Way brand, unveiled in 2022, has become the fastest-growing private consumer label on the market.
Research contact: @NBCNews
