Target will reduce prices on as many as 5,000 frequently purchased items. The company is faced with extreme competition and frugal customers resulting in lower traffic and ticket value.  Rick Gomez, Chief Food and Beauty Officer at Target stated, “We know consumers are feeling pressured to make the most of their budgets”. 

Target will reduce prices on meat, breads, fresh fruits, vegetables and yogurt.  Price cuts will apply to national and private brands and benefits should be reflected in the results for the third quarter of the current year.