Prices Could be Going Up at Your Target Store Very Soon
Huffington Post reports that Target may be changing their prices to compete with other retailers. This is no surprise as many stores are feeling the same kind of dip in sales since the beginning of the pandemic. Target will be doing something called dynamic pricing, which apparently has been done for years in the retail world. Dynamic pricing is when a store changes the price of items for current demand. This is something that many retailers have done in the past including Target.
This article from Huffington Post also talks about price hikes depending on the city you're in could affect the prices of the items you shop for. Even though Target has low prices, if you're going to a Target in a major city like New York for example, you're going to pay more, upwards of $1 more for the same products in a not so popular city. You may also even pay for parking at certain Target stores in certain cities. I know the one in The Bronx across the street from Yankees Stadium. If shoppers are able, they may want to go to a Target in a rural area instead of a city.
I love Target and everything about it. I love the friendly staff, I love the variety of services, like In-Store Pickup and their Drive Up service and I love their selection and prices. I think all of these things are what makes them stand out from other retailers. I shop there often and it's actually 1 of 3 grocery stores I religiously shop at. Their app is super easy to use and I always open it up when I need something and I search there first before anywhere else. I am hoping prices do not go up too much and they still keep the same standards despite their need for sales. I think this next year will be very good for retailers as the entire world will be bouncing back from the effects of the pandemic.