Target Is Slashing Prices on Everyday Items—Here’s What You Need to Know
Updated: May 30, 2024
Want to shop smart? Target's price reductions just might land you significant savings on essentials.
While skyrocketing prices can make for some silly inflation memes, the dent in our wallets is nothing to laugh about. According to the U.S. Department of Agriculture, food prices increased by 0.4% from March to April 2024. And since April 2023, they are up a staggering 3.4%. To combat inflation and help shoppers save money, Target announced that it will be cutting costs on essential items throughout the summer.
Target’s price reductions will hit 5,000 items in key departments, including groceries, household essentials and health and beauty. As of May 20, around 1,500 items have seen reduced pricing, while the rest will be gradually reduced over the next few months. Here’s what else you need to know—and how to save even more money at Target.
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Which products will see lower prices?
Target is focusing on cutting costs on everyday essentials, including food. According to the company’s press release, grocery items such as milk, meat, soda, fresh produce, snacks, yogurt, peanut butter and coffee will see decreased pricing.
Additionally, Target will reduce prices on household essentials such as diapers, paper towels and pet food. And here’s a Target secret to keep in mind: These price-slashing efforts won’t only be on Target’s own brands (Good & Gather, Everspring, etc.)—they will also be on name-brand items, including Huggies, Aveeno and Johnsonville.
How much is Target lowering prices?
Target is not offering flat-rate or across-the-board price cuts, which means new pricing is specific to each item and not based on a certain percentage. According to the listed prices in Target stores and online (via their website or app), decreases will be between 20 cents and more than $1. For example, a bag of Good & Gather Sea Salt Roasted Nuts dropped from $6.89 to $5.29, and a package of Purina One Chicken & Gravy Cat Food went from $2.39 to $1.99.
If you want to lower your monthly bills, take advantage of these savings, no matter how small. They can add up to significant cost reductions.
Will this continue beyond summer?
While Target is advertising these price cuts as a means to help shoppers save this summer, these deals will continue after August. A Target representative has confirmed to Reader’s Digest that these are the new everyday low prices, which will help out shoppers’ wallets for many seasons to come.
“We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more,” says Rick Gomez, executive vice president and chief food, essentials and beauty officer at Target, in a recent 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.”
What does this mean for shoppers?
These reduced costs on thousands of Target items should help shoppers save this summer on essential needs. And while there are plenty of Target savings hacks, one of the best is taking advantage of Target Circle deals, which are offered in addition to the price cuts mentioned. Shoppers can also save an extra 5% on their purchases if they pay using the Target Circle Card.
Looking to get the most bang for your buck? Shop generic. Most of Target’s basic brand products are listed under $10, while its everyday-essentials brand Up&Up lists most of its 2,000 products under $15.
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Sources:
- United States Department of Agriculture: “Summary Findings, Food Price Outlook, 2024”
- Target Corporation: “Target Will Help Consumers Save Big by Lowering Prices on 5,000 Frequently Shopped Items”
