The goal is to reduce the prices of more than 2,000 products for the Christmas trade. The move marks the continuation of a new trend among retail and fast-food chains looking to attract budget-conscious consumers with affordable meals and discounted items.
Minneapolis-based Target on Tuesday said it would cut costs for Target-owned and national brands, including food and beverages, everyday basics like cough medicine, toys and other holiday gifts.
The announcement comes after Target in May slashed prices on about 5,000 of its products, bringing the total to more than 8,000 items discounted so far this year. By the end of the holiday season, the company said it will have reduced prices on more than 10,000 items for the year.
In markets across the country from Phoenix to Atlanta, most of Target’s nearly 2,000 stores, its website Target.com and its app have the following lower prices, according to the retailer:
Target unveiled its reductions just days after Aldi unveiled its lowest price Thanksgiving spread in five years, best one offer of its larger rival, Walmart, by about two dollars. The discount retailers repeat the messages of fast food chains that offer $5 value meals.