Discounts Drive Traffic Surge for Target and Walmart

The retail playbook of slashing prices to boost sales is proving effective, with giants Target and Walmart reporting significant upticks in customer traffic. In a bid to lure cost-conscious consumers, both retailers have rolled out substantial deals in recent months, and the strategy appears to be paying off.

Target CEO Brian Cornell revealed on Wednesday’s that the company reduced prices on about 5,000 frequently purchased items across various markets over the summer. This aggressive discounting led to a noticeable “acceleration” in sales during the second quarter, which ended on June 30.

Walmart, too, has benefited from a similar approach, attracting throngs of shoppers eager for bargains. As economic uncertainty looms, these pricing strategies are not just keeping registers ringing—they’re solidifying the competitive edge of these retail powerhouses in a fiercely contested market.