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Target (TGT-0.94%) said on Tuesday that it’s kicking off the holiday season by slashing prices on over 2,000 items across its own and national brands.
Shoppers can expect to find lower prices on food and beverages, holiday gifts and everyday essentials, the company said. Items like toys, beauty products, toilet paper, and ice cream will also be marked down.
Rick Gomez, Target’s executive vice president, noted that the company understands “families are excited to celebrate the holidays,” and is offering lower prices so that they don’t have to “compromise” on quality.
Gomez emphasized that Target is providing “exceptional value” to help shoppers “save money as they embrace the magic of the season.” Discounts are available across Target stores, online, and via the Target app. Some of the discounted items include Crisco Vegetable Oil, the Magic Bullet Personal Blender Set, and Purina (NSRGY-0.65%) Tidy Cats Litter.
The retail giant is known for its competitive pricing and has already made headlines this year by cutting prices on roughly 5,000 items. By the end of the holiday season, Target expects to have reduced prices on more than 10,000 items.
In September, Target announced plans to hire 100,000 seasonal employees as it prepared for a busy holiday season. The majority of those roles will be in-store positions, such as front-end and shelf stocking, while others will handle supply chain operations to assist with order pickup. At that time, Target also updated its return policy, stating that it would “reserve the right to refuse returns, refunds, and exchanges,” on items it deemed suspicious.
In August, the company reported strong second quarter earnings that detailed its price cuts had successfully attracted inflation-weary consumers back. That strategy appears to have been effective, as the company reported a 2% rise in sales when compared to same period a year ago, leading it to update its full-year forecast.
