Target has pledged to cut inflation by 5,000 points. To be exact, the prices of 5,000 essential items will be reduced by the end of summer. Here's what you need to know about these price cuts, how to find them, and how big they are.
Shopping Target Price Reduction
What is the purpose of the target price reduction?
Target announced on May 20 that it would be lowering prices on 5,000 everyday items across its stores. Target's Memorial Day weekend sale has already seen nearly 1,500 price cuts. The list includes milk, meat, bread, soda, fresh fruits and vegetables, snacks, yogurt, peanut butter, coffee, diapers, paper towels and pet food.
“We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more,” Rick Gomez, Target's senior vice president and chief food, essentials and beauty products, said in a press release. .” he said.
The bigger picture: Consumers are suffering from two years of persistent inflation, especially at grocery stores. While inflation rates may not soar as they did in 2022 (when food inflation hit more than 11% year-on-year), prices will never fall. And discount chains like ALDI are drawing price-conscious shoppers away from big-box stores. Walmart recently took the bold step of launching its own new affordable grocery brand. And now Target is responding with these price cuts.
How large is the target price reduction?
Here are some of the price cuts Target announced:
- Good & Gather Unsalted Butter (1 pound) is now $3.79 (was $3.99).
- Good & Gather Organic Baby Spinach (5 ounces) is now $2.99 (was $3.29).
- Prime Hydration Sports Drink (16.9 fl oz) is now $1.99 (was $2.19).
- Jack's Frozen Pepperoni Pizza (14.3 ounces) is now $3.99 (was $4.19).
- Thomas Plain Bagel (20 ounces) Cost: $3.79 (starts at $4.19).
- Pepperidge Farm Goldfish Cheddar Flavored Explosion Crackers (6.6 ounces) Price: $2.79 (starts at $2.99).
- Good & Gather Sea Salt Roasted Nuts (9.5 ounces) now $5.29 (was $6.89).
- Clorox scented wipes (75 ct) are now $4.99 (was $5.79).
- Huggies Baby Wipes (16ct) now $.99 (was $1.19).
- Aveeno SPF 50 Sunscreen (3 fl oz) is now $13.19 (was $13.89).
- Persil Liquid Laundry Detergent (100 fluid ounces) is now $12.99 (was $13.69).
- Purina One Chicken & Gravy Cat Food (13 ounces) is now $1.99 (was $2.39).
That means you can expect discounts ranging from a 4.77% discount to a 23.21% discount (average discount rate of 10.42%). But keep in mind that this is a small item, so you may get a discount of $1 to 20 cents.
How exciting would a target price cut be?
It depends on what you shop for and how often you buy it. Shoppers with long memories will remember the time before the recent inflation. Discounted The prices listed above may have seemed prohibitively high. But considering that time machines don't exist, these discounts save shoppers real money across their entire shopping carts over time.
But before you automatically shop at Target, compare prices to see if other retailers are offering better deals on the products you want. Consider, for example, a 75-count pack of Clorox scented wipes (discounted to $4.99 at Target).
I found a lower price (subject to change) on Amazon for $4.79 (but you'll have to pay shipping if you don't have Prime or make a big enough order to qualify for free shipping without Prime).
Additionally, Amazon offers subscription and discount discounts (5% off repeat orders, reducing the price to $4.55).
That said, if you prefer shopping at Target (maybe you have a RedCard), Target's deals may be better. Plus, some of the items on Target's discount list are the lowest prices we've found anywhere. Get Huggies Baby wipes for less than $1. No one is offering that price. Last I checked. Plus, if you like Good & Gather, this is a Target exclusive brand you won't find anywhere else.
That said, if you shop at Target anyway, these prices can be quite reassuring, assuming you're shopping in the discounted categories (grocery, baby products, pet supplies). We're excited to see exactly where Target's promised additional 3,500 price cuts will go.
How to Find a Target Price Cut
There is no page where you can check all the new target price reduction details in one place. As you shop, you may see price reductions appear. Given Target's focus on essentials, you're most likely to stumble upon price cuts on groceries, diapers, pet food, and other everyday essentials. Pay particular close attention to Target's Good & Gather brand.
The post's goal is to reduce prices on 5,000 items: How excited should we be? Originally appeared on RetailMeNot's The Real Deal.