The holiday season will be here before we know it, and that means it’s time to get your shopping list in order. And early-bird shoppers are already hitting the stores looking for the best deals.
If that’s you, Target is your best bet with their new price-matching pledge. Here’s what we know.
Target Promises The Lowest Price
Target has announced that beginning on Oct. 10, shoppers will be able to request a price adjustment on anything they purchase at the discount retailer. If Target drops the price of the item later in the holiday shopping season, the shopper can get that lower price as well.
In addition to the requests for price adjustments on their own products, Target will continue to honor their promised match on select competitors’ pricing within 14 days of a customer’s purchase. This is the same price match program the retailer has had in the past.
Target’s price adjustment promise will be good on any products purchased between Oct. 10 and Dec. 24.
The discount retailer has also switched up their holiday staffing approach, hiring fewer seasonal workers while giving more hours to existing workers.
Target Launches Their New Price Adjustment Program With ‘Deal Days’
Target will begin their quest for early-bird shoppers with a special holiday push called “Deal Days” from Oct. 10 through Oct. 12. This special promotion will be available both in stores and online, so be on the lookout for it!
Consumer Spending Is Expected To Rise
After a pandemic-ridden holiday season in 2020, the forecasts are predicting that consumer spending will jump significantly this year. However, retailers are still facing economic issues brought on by the COVID shutdowns and policies, including slowdowns in the supply chain.
According to CNBC, if you want a guarantee that all of the items on your shopping list will be available for purchase, you should shop earlier than ever. It won’t be long before the store shelves will be empty, with no promise of replenishment.
But it’s not just product supply that’s an issue. There’s also the problem of inflationary pressure. Salesforce has forecasted that consumer prices will rise as much as 20% this holiday season.
This is due, in part, to the rapid increase in the money supply over the past couple of years, factory closures all over the globe, higher labor costs, and rising transportation expenses. The retail industry is facing an increase of $223 billion in cost of goods sold. Which, of course, will be passed onto the consumer.