Facing competition from online sellers like Amazon, Target has announced that it’s lowering prices on thousands of items throughout the store.
The discount retailer said its goal is to provide great everyday value so that guests don’t have to wait for the right sale.
“We want our guests to feel a sense of satisfaction every time they shop at Target,” said 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.”
Here are three things you need to know about Target’s new pricing:
1. Low everyday prices: Target said it took a close look at the products that are most important to guests and priced them appropriately, from cereal and paper towels to baby formula, razors, bath tissue and more.
2. Simplified marketing: More than two-thirds of Target’s price and offer call-outs have been eliminated, for example “Weekly Wow!” and “Bonus Offer.”
3. Sales are here to stay: This doesn’t mean that promotions are going away, but Target said that going forward it will offer additional savings on the right products at the right times.