Target cuts prices on 3,000 items; boosts food bank donation
Target is reducing prices in a move that it says is designed to help consumers stretch their household budgets this holiday season.
Starting this month, the discounter is cutting prices on 3,000 food, beverage and essential items, ranging from pantry staples and baby items to household essentials. The move comes as economic concerns are putting more pressure on consumers heading into the holiday season.
Last week, Target launched a Thanksgiving meal deal for less than $5 person, which it called its lowest price to date. It's available starting Nov. 16.
"I'm proud of the way our team moved quickly to lower prices on thousands of items our guests need most," said Lisa Roath, executive VP and chief merchandising officer of food, essentials and beauty, Target. "It's important work that will make a difference for families managing tight household budgets during the holidays. And it's work that builds on Target's legacy of strengthening communities through the way we run our business."
In addition, Target announced a $500,000 donation to Feeding America, the nation's largest domestic hunger-relief organization. This donation comes as food banks nationwide brace for increased demand this holiday season
“Target is proud to build on our longstanding partnership with Feeding America to help provide families access to nutritious food and essential resources," said Kiera Fernandez, executive VP and chief community and stakeholder engagement officer, Target. "This donation reflects our deep commitment to supporting the 2,000 communities we serve. In times of increased need, we remain focused on showing up with care and consistency for families across the country."
This latest donation puts Target on track for 2025 food security contributions of over $2.5 million in grants and 150 million pounds of food — part of the $400 million in products and cash Target is on pace to provide this year to nonprofits making a lasting impact on communities. It also builds on decades of support for hunger relief, including more than $16 million in grants to Feeding America over the past 20 years.