What’s Happening and How Rellevate Can Help
Price reductions at all types of retailers (from Grocery and Drug stores, to Fast Food and Big Box stores) are kicking into gear to win over cash-strapped consumers, but that doesn’t mean the battle against inflation has been won.
Walmart has rolled back prices on nearly 7,000 items in its stores, noting deflationary trends in general merchandise:
“Our combination of everyday low prices plus a large number of rollbacks is resonating with consumers”
Doug McMillon, Walmart CEO
Target has slashed prices on more than 1,500 items, ranging from laundry detergent to cat food to sunscreen, with thousands more price cuts expected over the summer. Online discount retailers like Temu are blowing past market expectations with a massive surge as consumers swarm these bargain-shopping apps for low-cost products.
Plus, other retailers including Amazon, Ikea, Aldi, and Walgreens have also announced price reductions while QSR chains are reintroducing lower priced value meals.
Some economists say that despite falling prices being a good sign, mortgage rates need to fall and employee wage growth needs to be tamed to achieve the Fed’s overall 2% inflation goal.
“While price cuts are going to be helpful, we’re still going to have to see housing rates come down, and wage growth to normalize”
Preston Caldwell, Morningstar Research Services
How Rellevate Can Help Beef Up Your Bottom Line
As price cuts start to hit bottom-line profitability, Rellevate’s On-Demand Pay Platform is proven to help tame wage growth by reducing payroll costs through better employee retention, morale and productivity.
Rellevate’s Pay Any-Day solution works by giving cash-strapped employees the ability to receive a portion of their earned wages (at zero cost) whenever they need, thereby allowing them better cash controls, money management and overall savings tools.
On-Demand Pay is Proven to Help Employers:
✓ Save up to $10,000 per retail location (15+ employees)
✓ Increase morale and workplace productivity by up to 72%
✓ Increase employee retention by up to 36%
Rellevate’s Revolutionary PayCard with Pay Any-Day is a zero-cost employer advantage.
