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As if we needed another excuse, Target announced on Monday that it will reduce the price of 5,000 items in their store, starting immediately. The company hopes to attract consumers back into their stores after many middle class families have tightened their belts due to rising prices and inflation.
It’s good news for parents who use Target as “me time” and for anyone feeling majorly worried about their food and home budget right now.
“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, wrote in a press release. “Our teams work hard to deliver great value every day, and these new lower prices across thousands of items will add up to additional big savings for the millions of consumers that shop Target each week for their everyday needs.”
The price cuts span across national and store brand, as well as across departments.
The store listed examples of some of their price cuts:
Good & Gather Unsalted Butter (1 lb) now $3.79 (was $3.99)Good & Gather Organic Baby Spinach (5 oz) now $2.99 (was $3.29)Prime Hydration Sports Drinks (16.9 fl oz) now $1.99 (was $2.19)Jack’s Frozen Pepperoni Pizza (14.3 oz) now $3.99 (was $4.19)Thomas’ Plain Bagels (20 oz) at $3.79 (from $4.19)Pepperidge Farm Goldfish Cheddar Flavor Blasted Crackers (6.6 oz) at $2.79 (from $2.99)Good & Gather Sea Salt Roasted Nuts (9.5 oz) now $5.29 (was $6.89)Clorox Scented Wipes (75 ct) now $4.99 (was $5.79)Huggies Baby Wipes (16 ct) now $.99 (was $1.19)Aveeno SPF 50 Sunscreen (3 fl oz) now $13.19 (was $13.89)Persil Liquid Laundry Detergent (100 fl oz) now $12.99 (was $13.69)Purina One Chicken & Gravy Cat Food (13 oz) now $1.99 (was $2.39)
While the price cuts are mostly under a dollar or so, they can add up if you’re doing all of your regular shopping there.
Prices on many foods and goods have risen 20% to 30% since the pandemic — while household incomes have not kept pace. This has resulted in many buyers switching to more bargain-oriented stores like Aldi, Walmart, and Costco while leaving stores like Target behind. At the same time, consumers are just leaving their houses less often to purchase things that aren’t necessary — in other words, there are fewer trips to Target just because it’s Sunday and people need a few thing.
Of course, Target is not just doing this out of the kindness of their hearts. Target sales fell in 2023 for the first time since 2016, and this is likely a move to get shoppers to return to their store like the olden days, before every dime counted for so many families.
But any way you cut it, lower prices are something to take note of — especially if you’re stocking up on summer essentials ahead of Memorial day.