The way things are going, Black Friday may turn into Black November. Target, not waiting for the official kickoff to the holiday shopping season, has announced it is cutting prices on at least 2,000 items.
Target says these price cuts have less to do with the holidays and more about helping consumers cope with inflation. But things to prepare for the upcoming holidays will also cost less.
Among the items going on sale are toys, board games, beauty products, bath towels, snacks, beverages, frozen vegetables, cookies, ice cream, toilet paper, cough and cold medicine as well as other household items.
"From meal prep and gifting to everyday needs, Target's offering the kind of exceptional value that'll make it even easier for everyone to save money as they embrace the magic of the season," said Rick Gomez, Target’s executive vice president and chief commercial officer.
Here are some examples of the price reductions consumers will find at many stores and online:
LEGO Technic 2022 Ford GT Car Model Set now $95.99 (was $119.99)
Bluey Fire Truck now $19.99 (was $24.99)
Crisco Vegetable Oil (40 fl. oz) now $4.79 (was $5.29)
Coffee Mate Natural Bliss Sweet Cream Creamer (32 fl. oz) now $4.99 (was $5.29)
Magic Bullet Personal Blender Set now $39.99 (was $49.99)
Purina Tidy Cats Litter (25 lb.) now $7.79 (was $8.59)
up&up Daytime Cold and Flu Relief Softgels (24 ct.) now $5.99 (was $6.99)
Why is Target doing this now? The company said it routinely adjusts its prices to remain competitive in markets. For example in May Target announced it would cut prices on about 5,000 items over the summer. It ended up reducing the price on even more and, by the end of the year, expects to have cut the price of at least 10,000 items.
What to expect from Walmart
Consumers may see similar moves at rival Walmart. Walmart U.S. President and CEO John Furner recently said the retailer will do “everything it can” to keep prices low, especially in markets impacted by recent natural disasters.
“We always keep our eye on value," Furner said in an interview with Fox Business. "The purpose of the company is, and has been for years and years, to help people save money and live better. And we take that saved money really seriously."
While noting the company also has to deal with inflation, Furner said Walmart has launched programs aimed at keeping rising costs from being passed along to consumers.
This week Walmart offered shoppers an “inflation-free” Thanksgiving meal bundle that it said will cost less than $7 per person. Walmart said the total cost a checkout for a Thanksgiving dinner for eight will be less than $46.