Big News: Target Just Announced That They're Slashing Prices

Big News: Target Just Announced That They're Slashing Prices

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Tara Bellucci
Sep 9, 2017
(Image credit: Northfoto/Shutterstock)

Big news, bullseye fans: Your Target run is about to cost less. The Minnesota-based retailer announced this week that they will be slashing prices on thousands of items, from cereal and paper towels to baby formula, razors, bath tissue and more.

There is a catch, though—more everyday low prices will mean fewer sales overall.

In a post on their corporate blog, Target acknowledges that rush you get when you snag a particularly sweet sale price, but also that it can come with some disappointment:

There's nothing like that victorious rush of nabbing a spectacular deal, but having to figure out what "As Advertised!" and "Temporary Price Cut" mean or waiting for just the right sale to roll around can be, well … super frustrating.

All too true. No one likes to buy something and then see it on sale seemingly the next day.

"We want our guests to feel a sense of satisfaction every time they shop at Target," says Mark Tritton, Target executive vice president and chief merchandising officer. "Part of that is removing the guesswork to ensure they feel confident they're getting a great, low price every day. We've spent months looking at our entire assortment, with a focus on offering the right price every day and simplifying our marketing to make great, low prices easy to spot, all while maintaining sales we know are meaningful to guests. And guests are taking note, appreciating much easier, more clear—and more consistent savings—at Target."

And don't worry, sales aren't going away completely: "We're just making sure to offer only our best, most compelling sales—when it makes the most sense for our guests," they say.

Whole Foods recently lowered their prices as a result of being acquired by Amazon—with some items in expensive retail markets dropping by as much as 50 percent.

This move could be Target's way of competing with Amazon, as well as part of its move toward simplifying, including the recent redesign of its stores.

h/t CNBC

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