Target CEO Brian Cornell says shoppers are pulling back, even on groceries, as they feel stressed about their budgets.
In an interview with CNBC’s Becky Quick that aired Thursday morning, he emphasized that the retailer has posted seven consecutive quarters of declining sales of discretionary items, such as apparel and toys, in terms of both dollars and units.
“But even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” he said in the interview.
Gone up 40% in cost and down 20% in quantity
And in quality. Seems like a lot of food items are using cheaper ingredients.
I’ve noticed a lot of things taste worse. Maybe worse ingredients, but also like things were burnt on the assembly line or left out to dry for too long
It has helped me cut down on eating processed food… It’s expensive and not even good half the time
I noticed more defects in chocolates at least. Missing or wierdly moulded shapes etc.