Target is lowering prices on over 2,000 items in various categories to provide more discounts to customers during the holiday season. This includes food, beverages, everyday essentials, holiday gifts, and items for holiday preparation. Examples of reduced items include Crisco Vegetable Oil, Coffee Mate creamer, Magic Bullet blender, Purina cat litter, cold and flu relief softgels, LEGO sets, and Bluey toys. Target previously reduced prices on 5,000 items in May, which has since increased to 8,000 items. By the end of the year, a total of 10,000 items will have seen price cuts. This follows Walmart and Aldi announcing discounted Thanksgiving meal offerings, with Walmart’s deal coming out to less than $7 per person and Aldi’s deal equating to less than $5 per person.
These price reductions come as consumer spending remains strong, with inflation approaching the Federal Reserve’s 2% target. However, research indicates that lower-income households are still facing financial struggles, leading to slower retail sales growth for this group. Target is also hiring 100,000 seasonal workers for the holidays, consistent with previous years. Both Target and Walmart have been increasing their store-brand offerings to provide more affordable options for customers. Overall, Target’s goal is to help families find joy during the holiday season by offering great products at lower prices.
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