--- title: These Major Retailers Are Cutting Prices to Lure Inflation-Weary Buyers Back description: With inflation abating, some U.S. retailers are starting to lower their prices to lure back shoppers previously turned off by high costs. authors: - name: Adam Hardy role: Lead Data Reporter url: https://money.com/author/adam-hardy/ bio: Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. Adam’s work has also appeared in Business Insider, Forbes, Nasdaq, The Penny Hoarder, Yahoo! Finance and more than a dozen local and regional newspapers. education: University of South Florida, BA, Magazine Journalism at_money_since: 2021 articles: 499 covers: - Shopping - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Taxes - Technology also_seen_in: - The Penny Hoarder - Forbes Advisor - Creative Loafing - The New York Times - The Washington Post - Bloomberg - Harvard Law School - The Federal Register - National Consumer Law Center - CBS News - Becker's Hospital Review - Business Insider - Mother Jones - The Week - Fortune - The Philadelphia Inquirer - National Association of Student Financial Aid Administrators (NAFSAA) - Education Advisory Board (EAB) - The Institute for College Access & Success (TICAS) - This Morning with Gordon Deal - Empower - Reddit social: - https://www.x.com/hardyjournalism - https://www.linkedin.com/in/hardyjournalism/ editors: - name: Julia Glum role: Managing Editor url: https://money.com/author/julia-glum/ bio: Julia Glum joined Money in 2018 and specializes in covering financial trends that affect everyday Americans' wallets. She also writes Dollar Scholar, a weekly newsletter that teaches young adults how to navigate the messy world of money. education: University of Florida at_money_since: 2018 articles: 453 covers: - Shopping - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Taxes - Technology also_seen_in: - Newsweek - International Business Times - CBS News - Good Morning America - WUSA9 - Pix 11 - The New York Times - Mashable - The Washington Post - CNBC - Politico social: - https://x.com/superjulia - https://www.linkedin.com/in/julia-glum published: '2024-04-24T15:05:18.000Z' modified: '2024-04-24T15:05:18.000Z' section: Shopping tags: - News word_count: 689 canonical: https://money.com/stores-cutting-prices-inflation/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Michaels store entrance](https://img.money.com/2024/04/News-Retail-Stores-Cutting-Prices.jpg) With [inflation](https://money.com/inflation-march-2024/) moderating, some U.S. retailers are beginning to lower their prices to lure back shoppers previously turned off by big price tags. Nearly three years of dealing with elevated inflation led Americans to broadly [change their shopping habits](https://money.com/dollar-scholar-save-money-groceries/): They started opting for private-label products, switching to cheaper retailers or cutting out certain non-essential purchases entirely. Retailers want those shoppers back, and major brands such as Walmart, Whole Foods, Ikea and others are willing to slash prices across several categories to win them over. “Freight costs are lower, and input costs are also moderating, so retailers can afford to take those lower costs and pass them on to the consumer,” Mickey Chadha, vice president of corporate finance at Moody’s, says in an email. Foods like eggs, dairy and cereal as well as products including toys, furniture, major appliances and electronics are all cheaper now than last year, according to the Labor Department. ## To improve your financial health, open a Checking Account ### Whether your financial landscape is well-established, or you're just beginning to build financial literacy, there are many advantages you'll experience by opening an account with Discover®️. [See Offer](https://money.com/pr/u048e81cbb49?ap_referrer=%2Fstores-cutting-prices-inflation%2F) ## Which stores are lowering prices — and why When certain items get cheaper to produce, it gives wiggle room to retailers to lower shelf prices. The price cuts could also be due to mounting pressure from the White House. For months now, President Joe Biden [has been demanding](https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/10/statement-from-president-joe-biden-on-the-march-consumer-price-index-2/) that retailers bring consumer costs down, telling them earlier this month to "use record profits to reduce prices." Similarly, at a campaign event in January, Biden railed against corporations “ripping people off” through “price gouging, junk fees, greedflation, shrinkflation.” Retailers may also be feeling the heat from everyday shoppers: “Most retailers are limited on how much more they can raise prices before there is pushback from the consumers,” Chadha says. During an earnings call in February, Walmart CEO Doug McMillon outlined several areas where prices are coming down at the megastore. “Our general merchandise prices are lower than a year ago and even two years ago in some categories,” McMillon said, referring to apparel, sporting goods and appliances. “In food, prices are lower than a year ago in places like eggs, apples and deli snacks.” In January, Ingka Group, which operates the largest number of Ikea stores, [said](https://www.ingka.com/newsroom/ikea-pushes-new-wave-of-price-cuts-to-create-better-home-for-the-many-people/) the cost of raw material for furniture has been falling, and that it plans on “passing on all the savings” onto customers throughout the first half of the year. Last year, the home-decor store [At Home announced](https://www.businesswire.com/news/home/20230322005003/en) a similar move in which it permanently cut prices due to lower supply costs. On Thursday, Michaels said it was lowering prices on over 5,000 products across arts, crafts, DIY and home decor categories. ## Access your money easily with a Checking Account ### With a Checking Account from SoFi, you can make use of the funds as you need to, without any restrictions. Click below to open an account today! [Open an Account](https://money.com/pr/uad8da3665a2?ap_referrer=%2Fstores-cutting-prices-inflation%2F) ## Don’t expect pre-pandemic prices ‘anytime soon, if ever’ When it comes to essentials like [groceries](https://money.com/best-credit-cards-for-groceries/), across-the-board price cuts tend to be a little more complicated. Grocers often operate on razor-thin profit margins of as low as 1%, so when the production price of food goes up, grocers have to raise prices somewhere to compensate. In some cases, if the grocer has enough buying power, it can negotiate with its suppliers to lower prices. That, in part, is driving prices down at Walmart. Given the vast array of products a typical Walmart sells, though, the store can simply lower prices in one area and raise them in another to balance out profit margins. However, the supplier strategy is currently being put to the test at Whole Foods. At a summit of suppliers earlier this year, the Amazon-owned grocer told its vendors that it wants shelf prices to better match the declining prices of production, according to [*The Wall Street Journal*](https://www.wsj.com/articles/whole-foods-asks-suppliers-to-lower-prices-as-costs-ebb-11675115155)*.* Whole Foods did not respond to a request for comment on how far prices have fallen, if at all, since then. Despite some retailers cutting prices on certain categories of goods, the cost of most everyday items are not falling across the board, Chadha notes. “Overall, I can’t think of any retailers that are lowering all their prices yet,” he says. “Prices are not returning to pre-pandemic levels anytime soon, if ever.” ![](https://s3.consumersadvocate.org/prd/image/image/19978/medium_09303199-0eb1-4bc1-81f4-bba87bf39bd2.png) Open a SoFi® Checking and Savings account today [See Details](https://money.com/pr/e2eb41300f54?ap_referrer=%2Fstores-cutting-prices-inflation%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/stores-cutting-prices-inflation/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Shopping", "item": "https://money.com/shopping/" }, { "@type": "ListItem", "position": 3, "name": "These Major Retailers Are Cutting Prices to Lure Inflation-Weary Buyers Back" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/stores-cutting-prices-inflation/#webpage", "url": "https://money.com/stores-cutting-prices-inflation/", "name": "These Major Retailers Are Cutting Prices to Lure Inflation-Weary Buyers Back", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2024-04-24T15:05:18.000Z", "mainEntity": { "@id": "https://money.com/stores-cutting-prices-inflation/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/stores-cutting-prices-inflation/#breadcrumb" }, "dateModified": "2024-04-24T15:05:18.000Z" }, { "@type": "NewsArticle", "headline": "These Major Retailers Are Cutting Prices to Lure Inflation-Weary Buyers Back", "articleSection": "Shopping", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2024/04/News-Retail-Stores-Cutting-Prices.jpg", "width": 1851, "height": 1234, "caption": "News-Retail-Stores-Cutting-Prices" } ], "author": [ { "@type": "Person", "name": "Adam Hardy", "url": "https://money.com/author/adam-hardy/", "@id": "https://money.com/author/adam-hardy/#author", "description": "Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. 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