Target hopes that a broad series of price cuts will once again attract buyers who have moved away from the chain.
The company announced plans Monday to reduce prices on nearly 5,000 items, ranging from groceries to diapers to pet food. Some 1,500 references, some national brands and some of its budget brandshave already seen price cuts effective on Monday.
“We know consumers feel compelled to make the most of their budget, and Target is here to help them save more,” said Rick Gomez, executive vice president and director of food, essentials and beauty at Target. in a report. “These new price reductions on thousands of items will provide significant additional savings. »
The price drops will be visible both in stores and on the Target website and app.
Items that have already seen discounts include:
- Jack’s Frozen Pepperoni Pizza – $3.99 (was $4.19)
- Thomas’ plain bagels – $3.79 (from $4.19)
- Good and gathering Sea Salt-roasted nuts – $5.29 (instead of $6.89)
- Clorox Scented Wipes – $4.99 (instead of $5.79)
- Huggies Baby Wipes – $0.99 (was $1.19)
- Aveeno SPF 50 Sunscreen – $13.19 (was $13.89)
- Purina One Chicken & Gravy Cat Food – $1.99 (was $2.39)
Target’s sales declined last year for the first time since 2016. The company will report quarterly results this Wednesday.
Target isn’t the only retailer cutting prices to bring back shoppers. Ikea and Aldi have both announced plans to reduce the prices of in-store goods, with costs rising by up to 30% over the past three years.
Target also uses other revenue-increasing strategies. The business started sell your own brand products at other retailers earlier this month, and it’s also trying to avoid the controversies it faced last year during Pride Month in sell less pride-themed merchandise in 2024, only offering LGBTQ-themed items in about half of its stores. It’s a dramatic reversal for the company, which has sold items in all of its stores for most of the past 10 years.