Three major U.S. retailers—Target, Walmart, and Aldi—have announced plans to reduce prices during the 2024 holiday season.
After four consecutive years of rising costs, driven by supply chain disruptions, inflation, and increased labor expenses, these superstores aim to win over budget-conscious shoppers and remain competitive.
Target is cutting prices on 2,000 items this holiday season to gain a competitive edge.
The Minneapolis-based retailer announced Tuesday that discounts will apply to both in-house and national brands across categories like food, beverages, essentials, holiday gifts, and home preparation items.
This is Target’s second round of price reductions, following a successful summer campaign where the company exceeded its initial plan of cutting prices on 5,000 items by slashing prices on 8,000 products. These holiday discounts are already in effect nationwide, available in stores, on Target.com, and through the Target app.
In recent months, Walmart has rolled out over 7,200 price rollbacks across a variety of categories, including a 35 percent increase in food-related discounts to help ease the strain of rising grocery costs.
On Oct. 17, Walmart kicked off its holiday “give or gift” meal initiative, which will run through Dec. 24. The holiday promotion helps customers easily gift meals or prepare festive meals for their celebrations.
Walmart’s Thanksgiving meal this year includes 29 items, featuring turkey at just $0.88 per pound, along with traditional sides and desserts. The meal is designed to serve eight people for under $7 per person, providing an affordable option for holiday gatherings.
John Laney, executive vice president of food at Walmart U.S., highlighted the significance of holiday meals, saying, “Some of the holiday’s most special moments take place around the dinner table. At Walmart, we are committed to offering customers even deeper savings on top of our Every Day Low Prices for all their mealtime needs.
“And with more opportunities to gift a meal and give back to those in need, we’re helping customers spread holiday cheer to their loved ones and their local communities,” he added.
ALDI is offering its lowest-priced Thanksgiving meal in five years, with a full spread for 10 people priced at under $47. With grocery prices up 50 percent across the industry compared to 2019, ALDI stands out for offering significant savings on Thanksgiving essentials.
Jason Hart, CEO of ALDI, emphasized the company’s commitment to affordability, saying, “Every day at ALDI, we are focused on finding ways to deliver the lowest possible prices for our customers—and this Thanksgiving is no different.”
He further highlighted the company’s growing customer base, adding: “With 25% of U.S households now shopping ALDI, we know grocery prices are still top of mind for customers. We worked hard this Thanksgiving to deliver the best value and quality products so everyone can enjoy a traditional meal with family and friends without having to scale back.”