Minneapolis, MN — Retail giant Target Corporation announced Tuesday that it will lower prices on more than 3,000 everyday essentials, including food, beverages, and household products, in an effort to help consumers manage tighter budgets during the 2025 holiday season.
The move comes as American shoppers face ongoing economic uncertainty, with inflation, high interest rates, and import tariffs introduced under President Donald Trump’s administration continuing to strain household finances. Retailers across the country are preparing for a muted holiday shopping season, with expectations of softer sales in November following the recent lapse in federal food aid benefits caused by the government shutdown.
Target said its new price cuts are designed to deliver meaningful savings on key grocery and household staples. As part of the initiative, the company announced that a Thanksgiving meal for four will now cost under US$20, or less than $5 per person, aligning with similar cost-cutting efforts by competitors Walmart and Aldi.
“Target is committed to providing relief to families as they prepare for the holidays,” the company said in a statement. “We understand the pressures many consumers are facing, and we’re ensuring they don’t have to sacrifice quality or celebration to stay within their budgets.”
The announcement follows a challenging year for the Minneapolis-based retailer, which in October confirmed its first major corporate layoff in nearly a decade, cutting 1,800 positions to streamline operations amid slowing sales and shifting consumer habits.
The company’s holiday strategy underscores a broader trend among major U.S. retailers pivoting toward value-driven pricing to retain customers and maintain competitiveness during an economically cautious season.
With inflation-weary shoppers prioritizing affordability over discretionary spending, Target’s move signals an effort to not only drive traffic into stores and online but also reinforce its reputation as a reliable destination for accessible everyday value.