Target: Consumers' Splurges on Experiences Cut Into Discretionary Retail Budgets

As consumers look to balance their desire to treat themselves with ongoing economic concerns, Target is seeing shoppers’ shift to discretionary spending on experiences negatively impact their budgets for nonessential retail products.On a call with analysts Wednesday (May 22) discussing the retailer’s first-quarter 2024 earnings results, Target Chairman and CEO Brian Cornell said shoppers are continuing to “look for ways they can stretch their budgets” amid inflation, often prioritizing springing for leisure ...