As the holiday shopping season approaches, Target has announced significant price reductions on over 2,000 items. This marks the retailer’s second major price cut this year, aimed at attracting consumers grappling with inflationary pressures.

Currently, many products across various categories—including home essentials, beauty items, groceries, beverages, and toys—have already seen price drops. In a recent press release, Target emphasized its commitment to “regularly adjusting prices to maintain competitiveness in markets nationwide,” and noted that this latest discount initiative will continue through December. Featured brands in the sale include well-known names like Lego and Coffee Mate, along with Target’s own private label offerings. Some of the highlighted discounted items include the Magic Bullet blender, which is now priced at $39.99 down from $49.99, and a Bluey toy fire truck, reduced from $24.99 to $19.99.

This pricing strategy has proved effective in boosting consumer spending after a series of challenging financial quarters for Target. According to recent financial reports, the discounts played a pivotal role in reversing trends, with sales at stores open for over a year rising by 2% in the last quarter and profits soaring by 36%.

Back in May, Target initially announced price cuts on 5,000 items, but it ultimately exceeded that figure, reaching a total of 8,000 discounted products. To date, the retailer has lowered prices on more than 10,000 items this year.

Other major retailers like Walmart, Ikea, and Aldi have also been slashing prices in recent months to draw in consumers. Many shoppers are now more cautious and selective in their spending due to inflation. Recent data revealed that retail spending in the U.S. rose by 0.4% in September, a significant increase compared to just 0.1% in August. Since consumer spending accounts for about 70% of the U.S. economy, a large portion of that is attributed to retail sales. The latest reports suggest that despite ongoing challenges from high inflation and interest rates, Americans are still actively making purchases.

However, Target remains cautious about future performance, projecting that sales may grow by as much as 2% for the year, though outcomes could fall short of expectations.