During a National Retail Federation event on Sunday, Target CEO Brian Cornell said consumers will continue to modify their habits in 2022 as household expenses continue to increase.
"You’ll drive fewer miles, you’ll consolidate the number of times and locations where you shop," Cornell said. "You’ll probably spend a little more eating at home versus your favorite restaurant, and you might make some trade-offs between a national brand and an own brand." The consumer price index rose 7% in December from a year ago, according to a new Labor Department report released last week, marking the fastest increase since June 1982, when inflation hit 7.1%.
Price gains could slow further as snags in supply chains ease, but most economists say inflation won’t fall back to pre-pandemic levels anytime soon. Cornell noted that the company will "learn a lot about how the consumer reacts in the next 60, 90, 120 days to rising prices."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
6 WRs Patriots Should Target In 2022 NFL Draft | The Draft NetworkThe Patriots need to upgrade their WR corps and the 2022 NFL Draft is a great place to do it. FowlerRyan1 breaks down multiple Day 1, 2, and 3 options for New England to target. FrontOffice33 | GoPats
Read more »
How to set business goals in 2022, according to Naturalicious' CEOInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Vandals Target Cars in Spring City, Chester CountySurveillance video shows two suspects who police believe vandalized several cars in Spring City, Pennsylvania. NBC10’s Steven Fisher has the details.
Read more »
Jan. 6 investigators target Trump's court efforts to overturn electionThe Jan. 6 committee is homing in on the key drivers of Donald Trump’s legal efforts to overturn the election, before he set his sights on Congress
Read more »
New Spanish Regulations to Target Crypto Investment Ads – Regulation Bitcoin NewsAs part of the new regulations, influencers are required to inform their followers of the risks that are associated with the investments they promote. investment risk
Read more »
Why Splurge On Coats When This Chic Quilted Jacket From Target Exists?This coat is allllll over my Insta feed.
Read more »