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Target’s week-long Black Friday sale begins on Sunday, November 20th. Photo: Robyn Beck/AFP via Getty Images
Target has released details on its Black Friday sales, which the retailer is calling its biggest ever.
Why it matters: Thursday’s holiday shopping announcement comes a day after Target CEO Brian Cornell said during an earnings call that “consumers are showing increasing signs of stress and pulling back from sight shopping.”
- Third-quarter profit fell 52% on target, according to the company’s earnings report.
- Target began offering weekly Black Friday deals three weeks ago last year to lure inflation-stricken shoppers looking to stretch their budgets.
What they say: “With high inflation rates continuing to erode their purchasing power, many consumers this year are relying on borrowing or investing in their savings to manage their weekly budgets,” Cornell told analysts Wednesday. “But for many consumers, those options are starting to run out.”
- “As a result, our guests show increased price sensitivity, are more focused and responsive to promotions and are more reluctant to buy at full price,” Cornell said.
For now, Colleen McCreary, a consumer finance representative at Credit Karma, told Axios that many people will rely on holiday sales and discounts this year.
- “Every dollar counts this holiday season as consumers struggle with inflated prices and the rising cost of living, making the holidays unaffordable for many American households,” McCreary said.
Target Black Friday 2022 discounts
Target’s weekly Black Friday deals will run Sunday through Saturday, November 26 online and in stores.
Details: New deals will also be added on Thanksgiving Day and run through that Saturday.
- There will be more than 1 million items on sale and discounts of up to 50%, Target said in a press release Thursday.
- Top deals include a 65-inch Smart TV for $329.99 ($300 off regular price), buy one, get one toy 50% off select brands, discounts on KitchenAid mixers, Dyson vacuums and clothing .
The planned Black Friday ad was released
The latest: Target posted its 62-page ad for the week of Friday on its website on Friday.
Between the lines: Expect to find more deals promoted on the Target website as part of “specials of the day” on Dec. 24.
Target stores are closed Thanksgiving 2022
For the third year, Target stores are closed for Thanksgiving, a move that began in 2020 with the pandemic.
- Target announced last year that the Thanksgiving ban would be permanent.
Yes, but: Walmart, Best Buy, Macy’s, Kohl’s, JCPenney and other retailers will also keep stores closed on November 24.
- Many retailers are traditionally closed for the holiday such as Costco, Home Depot, Lowe’s, Marshalls, Sam’s Club and Shoe Carnival.
Focus on Black Friday hours
Most Target stores will open at 7am during the dark on Friday, November 25, an hour before the usual 8am opening.
- JCPenney and Kohl’s have both said they will open at 5 a.m. Black Friday.
Targeted Cyber Monday sales
We are watching: After the Black Friday weekend sale, Target will move to a two-day Cyber event.
- Target announced Thursday that the sale will take place Nov. 27-28 and will feature “hundreds of thousands of ads exclusively on Target.com and the Target app.”
Price target holiday
Scheduled to begin holiday pricing match confirmation on Oct. 6, which promises price adjustments if prices go down.
How it works: Customers are eligible for a price adjustment on any Target purchased if the Target price drops “at any time on Dec. 24.”
Editor’s note: This story has been updated to reflect that Target has posted its Black Friday sale.
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