Target to lower prices on more than 2,000 items ahead of holiday season
Target is reducing prices for the second time this year as it looks to appeal to budget-minded, inflation-weary holiday shoppers.
The discounter said it will reduce regular prices on more than 2,000 items across owned and national brands this holiday season, including food and beverages, everyday essentials, holiday gifts and items to prep the home for the holidays. The move comes as recent surveys show holiday shoppers will be focused on deals and promotions this year.
[READ MORE: ICSC: Holiday shoppers to look for deals; discount department stores top choice]
Target noted that it routinely adjusts its prices to remain competitive in markets across the country. In May, the retailer announced plans to cut prices on about 5,000 items, but it surpassed the initial commitment, lowering prices on more than 8,000 total items. By the end of the holiday season, Target will have lowered prices on over 10,000 items during the year.
The new round of price cuts will affect a wide array of categories, including toys, board games, beauty products, bath towels, snacks, beverages, frozen vegetables, cookies, ice cream, toilet paper, cough and cold medicine and more. In a release, Target highlighted a few of the cuts, including a Bluey Fire Truck, reduced to $19.99 from $24.99, and a Magic Bullet Personal Blender Set, reduced to $39.99 from $49.99.
Target previously announced holiday plans that include its largest holiday assortment ever featuring thousands of toys with more than half priced under $20, exclusive products from owned and national brands and a front-of-store value section (“Bullseye’s Playground”) featuring 50 gifts for the family under $5.
"We know families are excited to celebrate the holidays, so Target is committed to helping them find joy without compromise — with great products across our assortment at even lower prices," said Rick Gomez, executive VP and chief commercial officer, Target. "From meal prep and gifting to everyday needs, Target's offering the kind of exceptional value that'll make it even easier for everyone to save money as they embrace the magic of the season."
Target's announcement comes one week after Walmart and Aldi announced discounted Thanksgiving meal offerings.
[READ MORE: Walmart offers 'inflation-free' Thanksgiving meal under $7 a person]
