Walgreens Joins Retail Giants In Slashing Prices Amid Persistent Inflation

Walgreens has announced it will cut prices on 1,300 items across its drugstores, becoming the latest major retailer to offer discounts as consumers continue to grapple with high inflation. The move follows similar actions by Amazon Fresh, Target and Walmart, all of which have recently reduced prices on thousands of products in response to consumers’ financial strain.

Walgreens’ price cuts will affect items such as vitamins, feminine hygiene products, toothbrushes, pain relief patches, hand cream and mini pretzels. Tracey D. Brown, president of Walgreens Retail, stated, “Walgreens understands our customers are under financial strain and struggle to purchase everyday essentials.”

The pharmacy chain, which serves nearly nine million people daily across its 9,000 locations in the U.S. and Puerto Rico, plans to introduce promotional campaigns throughout the summer, including the return of its myW Days loyalty program offering exclusive deals and rewards to members.

Walmart, which recently slashed prices on up to 7,000 items, reported better-than-expected quarterly profits, largely due to the popularity of its e-commerce site and spending by wealthier shoppers. Target, meanwhile, saw a 3.1% drop in net sales and a 3.7% quarterly decline in comparable sales despite its price cuts and the introduction of its “dealworthy” discount brand.

Since the Biden administration took office in 2021, grocery prices have risen by more than 21%. Inflation was 3.4% higher year-over-year in April, with groceries being 2.2% more expensive than in 2023. In response, fast-food chains like McDonald’s, Wendy’s and Burger King have introduced value bundle meals to lure back cost-conscious customers.

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