Target’s New Brand: Dealworthy

Inflation was the unofficial word of 2022, and possibly also 2023. Prices for basic goods and services have been rising consistently in the last couple of years which has lead to consumer brands re-specing their products, whether it’s by changing their formulas or downsizing packaging and product content. This strategy is also known as “shrinkflation”.

Some brands, however, have decided to introduce more affordable lines instead.

Earlier this month, Target launched a brand-new private label called Dealworthy, which features over 400 SKUs ranging between USD 1-USD 10. It has, likewise, revamped its Up&Up brand by reformulating 40% of the brand’s existing product portfolio. It is expected that Dealworthy will further contribute to the USD 30 billion in sales that Target’s 45 private label brands currently generate every year.

Make it stand out

Whatever it is, the way you tell your story online can make all the difference.

Dealworthy is focused on offering best prices for consumers looking to economize on daily purchases without having to sacrifice value. The new brand encompasses multiple categories, from apparel, accessories and beauty, to electronics, essentials, and homegoods. Prices for all goods will be some of the lowest at Target stores.

As for Up & Up, the brand has not only reformulated almost half of its product lineup, but also introduced new lines such as moving supplies, oral care, dog grooming, and food storage products. The brand’s SKU count now totals 2,000 and most items are priced under USD 15.

As political and economic uncertainties still lingering in the aire, Dealworthy is most likely to be a success for Target, and will likely growth the product offering in 2024.