Attention Target shoppers: Relief for your wallet is on the way.

Minnesota-based Target Corporation announced on Monday (May 20) that they will be cutting the prices of roughly 5,000 products across a series of categories. In a press release on the news, Target said these price reductions will be on "frequently shopped items.

The company's vice president and chief food, essentials and beauty officer said "We know consumers are feeling pressured to make the most of their budget, and Target is here to help them save more" while saying the new lower prices they are rolling out "will add up to additional big savings for the millions of consumers that shop Target each week for their everyday needs."

Categories of focus for the price cuts include in the areas like food, beverages, and household essentials like paper towels, pet food, and diapers.

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Target says they have already implemented reduced prices on about 1,500 products, with more planned to be rolled out over the course of this summer.

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The price reductions come in the wake of news that Target's sales saw their first decline in seven years in 2023.

The price cuts will reportedly come for both name-brand and store-brand products like their Good & Gather and recently unveiled Dealworthy brands.

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Examples Target highlights for price reductions coming to both in-store and online shopping include a 20-cent price cut for their Good & Gather unsalted butter, an 80-cent price cut for Clorox scented wipes, a 70-cent price reduction for Persil liquid laundry detergent, and a 20-cent savings on Jack's frozen pepperoni pizzas.

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While a lot of those price reductions come a few cents at a time, Target feels the overall savings will be helpful for families while the company also looks to rebound from seeing their sales slide last year by encouraging more people to shop with the new reduced prices.

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Gallery Credit: Madison Troyer & Zack Abrams

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