Market research reports and financial reports from competitors

Target to Lower Prices on 5,000 Items This Summer Ahead of Memorial Day

May 20, 2024, 04:53 PM

Target Corporation announced on Monday that it will lower prices on approximately 5,000 frequently shopped items. The price reductions will cover a wide range of products including milk, meat, bread, soda, fresh fruit and vegetables, snacks, yogurt, peanut butter, coffee, diapers, paper, and pet food. The initiative is part of Target's strategy to attract budget-conscious consumers amid ongoing inflation. The company has already reduced prices on 1,500 items, with additional cuts planned over the summer. This move comes as Target seeks to remain competitive and boost sales, particularly ahead of the Memorial Day weekend. The price cuts also include household essentials.