Colorado Targets Massively Drop Prices; Here’s Why

When it comes to brick-and-mortar stores, we’ve had almost nothing but bad news.

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In fact, big box retail stores in Colorado are closing at a higher rate than the rest of the country. We actually rank 10th in the entire country for store closures.

We’ve seen plenty of stores shutter their Colorado locations as of late. The clothing store, Express, recently permanently closed multiple stores in Colorado.

We’ve also seen prices get to a point that is absolutely ridiculous, and truly unsustainable for the average consumer.

However, Target seemingly is taking a stand, making a change to its prices in all of its Colorado stores.

Target is Dropping Prices on Over 5,000 Items in Colorado

As said, this country has seen what can be best described as price gouging over the past few years.

However, Target as a brand seems to be breaking the trend.

Colorado shoppers can expect price drops across the board for many items that people frequently buy. Reuters notes at least 5,000 items that will be affected, and will be common goods like diapers and milk.

This could be massive for Coloradans, who recently have been cash-strapped due to the increased cost of living in our state. In fact, we have the 11th highest cost of living in the entire country.

These prices certainly could help many people in this state.

Target is Lowering Prices to Keep Up With Their Competitors

Here’s the thing about these price drops; they’re not necessarily due to Target being generous to shoppers.

It’s actually a desperation move for a company that is losing a battle against their competitors: Walmart, Costco, and Amazon.

In the first quarter of this year, Target reported a drop in sales of 3.7%, according to Fast Company.

Their stock has risen 8% this year, but compared to Walment’s 23% and Costco’s 22% growth, it’s essentially nothing.

Despite the price drops not being from the goodness of their heart, Colorado shoppers still can take advantage of the newfound deals across the chain.