{"id":8745,"date":"2023-03-04T07:37:03","date_gmt":"2023-03-04T07:37:03","guid":{"rendered":"https:\/\/dmsretail.com\/RetailNews\/target-to-launch-new-private-labels-expand-others\/"},"modified":"2023-03-04T07:37:03","modified_gmt":"2023-03-04T07:37:03","slug":"target-to-launch-new-private-labels-expand-others","status":"publish","type":"post","link":"https:\/\/dmsretail.com\/RetailNews\/target-to-launch-new-private-labels-expand-others\/","title":{"rendered":"Target to Launch New Private Labels, Expand Others"},"content":{"rendered":"

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Target announced earlier this week that it would be stocking its shelves with more products priced under $10 as it tries to appeal to more cost-conscious consumers dealing with once-in-a-generation inflation. The retailer has shifted its focus to selling more food and lower-priced items under its higher-margin private-label brands including Favorite Day, Good & Gather, and Mondo Llama.\u00a0Target said it plans to launch or expand more than 10 owned brands, adding thousands of new products. The majority of these items will be sold for $3, $5, $10 and $15, according to the retailer.<\/p>\n

Total Retail’s Take:<\/strong> Target has seen the success of dollar stores and other value-based retail chains (e.g., Five Below) as consumers grapple with economic pressures and is trying to emulate them with a greater emphasis on low-priced private-label merchandise. Furthermore, by appealing to price-conscious consumers, Target is seeking to increase store traffic. Private-label goods offer Target a higher-profit item, diversification against its competitors, and an opportunity to create brand loyalty.<\/p>\n<\/div>\n