US retailer Target is reducing prices on more than 2,000 items ranging from snacks to toys and cold medicine ahead of the holiday season.
The supermarket giant is making the move in an attempt to attract bargain-hunting customers ahead of holidays such as Thanksgiving and Christmas.
Customers in the US have been especially inflation-weary after prices rose globally and brands began hiking costs in the face of heightened production and material prices.
The price reductions will be across national brands and Target’s own private brands, including food and beverages, everyday essentials and holiday gifts, the company said.
A backdrop of frugal customer behaviour prompted the move ahead of the shorter-than-usual key shopping period this year.
Target’s rival Walmart has also been pushing to keep prices on essentials low as many Americans turn to discount shopping amid sticky inflation.
In May, Target lowered prices on at least 5,000 frequently shopped products.
It said on Tuesday that it was on track to lower prices on more than 10,000 items by the end of the holiday season.
In August, Target raised its full-year profit forecast and reported its first increase in quarterly comparable sales in over a year, driven by price cuts.
The Minneapolis-based retailer has hired about 100,000 seasonal workers ahead of the holiday season.
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