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To lure budget-conscious shoppers, Target (TGT+2.15%) is rolling out its cheapest Thanksgiving meal yet for just $20 – $5 less than last year.
This strategic pricing puts Target squarely in competition with Walmart (WMT+0.77%) and Aldi, which are offering festive bundles for roughly $57 and $47, respectively.
Target’s Thanksgiving offering serves four, but could “easily be doubled to serve eight,” and includes all the essentials for a traditional dinner, including a hefty turkey (up to 10 lbs.), stuffing mix, gravy, russet potatoes, green beans, and cranberry sauce. Plus, side dishes like cheddar mac and cranberry goat cheese, along with desserts such as apple and pumpkin pie, are all priced under $5.
Rick Gomez, Target’s executive vice president, emphasized the company’s goal to give shoppers quality and value during the holiday season. “Thanksgiving and smaller moments throughout the holiday season are where Target shines the brightest,” he stated.
Earlier this month, Target announced price cuts on over 2,000 items across its own and national brands, including food, beverages, holiday gifts, and everyday essentials. Notable discounts include Crisco (BGS+1.08%) Vegetable Oil and the Magic Bullet Personal Blender Set.
During that time, Gomez also highlighted the retailer’s goal of providing “exceptional value,” noting plans to lower prices on over 10,000 items by the end of the holiday season. In May, Target made headlines by cutting prices on 5,000 products, resulting in a sales boost when it reported quarterly earnings three months later.
In preparation for the holiday season, Target said in September it would hire 100,000 seasonal employees primarily for in-store roles, with some focused on supply chain operations to help with order pickup and fulfillment. At that time, Target also updated its return policy, saying it would “reserve the right to refuse returns, refunds, and exchanges,” on items it deemed suspicious.