Retailers roll out summer deals for inflation-weary consumers. Here's where.
CBSN
Americans who spend Memorial Day scouting sales online and in stores may find more reasons to celebrate the return of warmer weather. Major retailers are stepping up discounts heading into the summer months, hoping to entice inflation-weary shoppers into opening their wallets.
Target, Walmart and other chains have rolled out price cuts — some permanent, others temporary — with the stated aim of giving their customers some relief. The reductions, which mostly involve groceries, are getting introduced as inflation showed its first sign of easing this year but not enough for consumers who are struggling to pay for basic necessities as well as rent and car insurance.
The latest quarterly earnings reported by retailers Walmart, Macy's and Ralph Lauren showed consumers have continued to spend at their stores. However, multiple CEOs, including the heads of McDonald's, Starbucks and home improvement retailer Home Depot, have observed a decline in sales as people are becoming more price-conscious and choosy.
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