Target is hoping a wide series of price cuts will lure back shoppers who have wandered away from the chain.
The company on Monday announced plans to reduce prices on nearly 5,000 items, ranging from groceries to diapers to pet food. Some 1,500 items, some national brands, and some of its budget brands have already seen price cuts effective Monday.
“We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more,” Rick Gomez, executive vice president and chief food, essentials, and beauty officer at Target, said in a statement. “These new lower prices across thousands of items will add up to additional big savings.”
The price cuts will be visible both in stores and on the Target website and app.
Among the items that have already seen reductions are:
- Jack’s Frozen Pepperoni Pizza – $3.99 (was $4.19)
- Thomas’ Plain Bagels – $3.79 (from $4.19)
- Good & Gather Sea Salt Roasted Nuts – $5.29 (was $6.89)
- Clorox Scented Wipes – $4.99 (was $5.79)
- Huggies Baby Wipes – $.99 (was $1.19)
- Aveeno SPF 50 Sunscreen – $13.19 (was $13.89)
- Purina One Chicken & Gravy Cat Food – $1.99 (was $2.39)
Sales at Target were lower last year for the first time since 2016. The company will report quarterly earnings this Wednesday.
Target isn’t the only retailer that’s reducing prices to bring back shoppers. Ikea and Aldi have both announced plans to reduce prices on in-store merchandise as costs have jumped by as much as 30% over the past three years.
Target is also employing other revenue-boosting strategies. The company started selling its own-brand products at other retailers earlier this month, and it’s also trying to avoid the controversies it ran into last year during Pride Month by selling less Pride-themed merchandise in 2024, only carrying LGBTQ-themed items in roughly half of its stores. That’s a drastic reversal for the company, which has sold items in all of its stores for the better part of the past 10 years.