Businesses like Target and Starbucks have always survived by the cachet of their names. But in a tight economy, both are trying to reinvent themselves with something new to give them the edge over tough competition.

Historically, Target had always positioned itself as an affordable splurge over the years. Yet suddenly, any kind of splurge is seen as irrelevant and the store's sales are suffering.

So the retailer has hit on the idea of rolling out minimarts in all its stores that don't already have one. You'll find frozen foods and non-perishable groceries, but no fresh produce.

It's an effort to compete with Wal-Mart Super Centers and the traditional supermarkets. In addition, it's expected to increase traffic flow into Target stores and generate other non-food sales too.

The benefit to you is that there's another competitor in the grocery world creating another potential opportunity for a deal.

Starbucks, meanwhile, is seeing its own sales suffer as more and more people turn to McDonald's own line of McCafés. As a result, the Seattle java giant has had to reduce its iced coffee to $1.95 in order to compete with cheaper McCafé fare.

Finally, The Washington Post reports that Pottery Barn is another example of a fancy store that's trying to come up with some newfound sales mojo. So Pottery Barn is now "discounting" its sofa line to start at $1,000. And that's supposed to be affordable?!