Target's Thanksgiving Meal is Back and $5 Less Than Last Year, Serving Four People for $20

Rhea-AI Summary

Target (NYSE: TGT) has reduced its Thanksgiving meal price to $20, which is $5 less than last year. The meal serves four people and includes a turkey and six side dishes. The retailer is offering turkey at 79 cents per pound, 20% lower than last year, along with various side dishes and desserts under $5.

The company has introduced nearly 700 new food, beverage and entertaining items for the holiday season. Target Circle 360 members can get a free frozen pizza with same-day delivery orders from Nov. 13-16. Additionally, Target has reduced prices on more than 2,000 items for holiday entertaining.

Positive

• Reduced Thanksgiving meal price by $5 to $20
• 20% reduction in turkey prices compared to last year
• Price reductions on over 2,000 items
• Introduction of 700 new food and beverage items

Negative

• None.

Insights

Market Research Analyst

The $20 Thanksgiving meal deal and broader holiday pricing strategy represents a significant competitive move by Target. The 20% reduction in turkey prices and numerous items priced under $5 directly addresses consumer price sensitivity during inflation. This aggressive pricing, combined with the expansion of the Marks & Spencer partnership and new John Derian collection, positions Target strongly for the important Q4 retail season.

The broader price reduction initiative on over 2,000 items shows Target's commitment to driving store traffic and market share gains. This could help recover from recent sales challenges while building customer loyalty through the Target Circle program. The strategy of combining value pricing with premium partnerships maintains Target's 'cheap chic' positioning while defending against both discount and premium competitors.

• Retailer brings back its popular Thanksgiving meal featuring turkey, stuffing and five additional side dishes for $5 less than last year
  
  
• Target helps consumers stretch their budgets with turkey prices 20% lower per pound than last year, and many side dishes and desserts under $5
  
  
• Thanksgiving eve is one of the most popular pizza days of the year as families prep for the holiday, so Target is offering Target Circle 360 members a free frozen pizza with a same-day delivery order Nov. 13-16

MINNEAPOLIS, Oct. 28, 2024 /PRNewswire/ -- Target Corporation (NYSE: TGT) today announced it is lowering the price of its Thanksgiving meal. At just $20¹, it is $5 less than last year's offering. The retailer also shared more ways it's making Thanksgiving affordable, easy and delicious for consumers, including a value-packed array of side dishes, pies and desserts under $5, turkey for just 79 cents per pound (20% lower per pound than last year), a free frozen pizza offer for all members of the Target Circle 360 paid program, plus nearly 700 new food, beverage and entertaining items to elevate every celebration all season long.

The $20 Thanksgiving meal includes everything consumers need for a traditional Thanksgiving feast that serves four, which can easily be doubled to serve eight:

• Good & Gather Premium Basted Young Turkey (Frozen) – up to 10 lb.
• Good & Gather Russet Potatoes – 5 lb.
• Del Monte Cut Green Beans – 14.5 oz.
• Campbell's Cream of Mushroom Soup – 10.5 oz.
• Ocean Spray Jellied Cranberry Sauce – 14 oz.
• Stove Top Turkey Stuffing Mix – 6 oz.
• Heinz Home Style Roasted Turkey Gravy – 12 oz.

"When it comes to our goal of celebrating food and beverage, big events like Thanksgiving — and smaller moments throughout the holiday season — are where Target shines the brightest," said Rick Gomez, executive vice president and chief commercial officer, Target. "From lowering the price of our Thanksgiving dinner menu to just $20, to a range of hosting and gifting options and special Target Circle 360 offerings, we're serving up the kind of exceptional quality and value that sets Target apart."

More Thanksgiving and holiday entertaining options

This year, Target is bringing even more value and ease to Thanksgiving, with meal, hosting and gifting options including:

• Turkey at 79 cents per pound, 20% less per pound than last year
• Side dishes like Good & Gather Cheddar Mac and Cranberry Goat Cheese, and desserts including Favorite Day apple and pumpkin pie for under $5
• Hosting and gift-giving options including fresh flowers, wines, Good & Gather charcuterie entertaining tray (just $11.99), apps, desserts and more

Target Circle 360 free frozen pizza offer

Thanksgiving eve is one of the most popular pizza days of the year. From Nov. 13-16, all members of the Target Circle 360 paid program can select one frozen pizza² and redeem it for free at checkout when using same-day delivery — it's a simple way Target is saying thank you to its Target Circle 360 members and making it easier to prep for the holiday.

Entertaining for the holidays

Target is a go-to destination for shoppers' entertaining and gifting needs, especially during Thanksgiving and the upcoming holidays with nearly 700 new food, beverage and entertaining items to elevate every celebration all season long. A few highlights that will help take the guesswork out of entertainment prep and make it easy for consumers to be the best guest or host include:

• John Derian for Target. Designer and longtime Target collaborator John Derian returns with his second limited-time-only Thanksgiving home collection, including favorites like ornate dinnerware and novelty pillows, all under $40, available now in stores and on Target.com.
• Marks & Spencer. An expanded assortment from the iconic British retailer offers 12 exclusive gourmet food and beverage gifts like the Gingerbread Tin and Salted Caramel Pinecones, and 11 new home items like London-themed ornaments and mugs — for easy, no-wrapping-necessary gifting, all under $20.
• Activity kits and cocoa. The only-at-Target magic is here for the holidays, with a mix of owned brands like Good & Gather and Favorite Day (including more than 50 new peppermint items starting at $1.29), alongside top national brands. Fun, affordable options include activity kits $12 and under, hot cocoa creations under $5, gifts under $10 and stocking stuffers starting at $2.
• Home items for the holidays, only at Target. Owned and exclusive brands including Figmint kitchenware, Threshold and Hearth & Hand with Magnolia feature new, only-at-Target gift and home decor options starting at $5.

Easy shopping

Consumers can save time and money at Target through Target's price match guarantee, free-to-join Target Circle membership and paid Target Circle 360 membership, which includes unlimited same-day delivery with no delivery fees on orders over $35, free two-day shipping and extended returns. With Target Circle 360, members can have all the makings of their Thanksgiving meal delivered straight to their door the same day they place their order, freeing up time for family and other holiday activities.

Every consumer can also take advantage of the retailer's free same-day services like Drive Up and Order Pickup.

Shoppers can also save an extra 5%³ if they pay with Target Circle Card, get Target Circle deals and more.

Price reductions for additional savings

Earlier this month, Target announced price reductions on more than 2,000 items, perfect for families prepping their home for holiday entertaining. Consumers will find reduced prices on everyday items needed to ready their households for the season and make the most of their budgets as they shop for each important moment — like preparing their homes for guests, purchasing gifts and cooking delicious holiday meals.

About Target

Minneapolis-based Target Corporation (NYSE: TGT) serves guests at nearly 2,000 stores and at Target.com, with the purpose of helping all families discover the joy of everyday life. Since 1946, Target has given 5% of its profit to communities, which today equals millions of dollars a week. Additional company information can be found by visiting the corporate website and press center.

1. Prices are pre-tax. Offer not valid in Alaska or Hawaii. Bundle pricing effective 11/3.
2. Restrictions apply.
3. Restrictions apply. Subject to application approval and identity verification. See Target.com/CircleCard for program rules and details.

 

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SOURCE Target Corporation

FAQ

How much does Target's (TGT) 2024 Thanksgiving meal cost?

Target's 2024 Thanksgiving meal costs $20, which is $5 less than last year's price, and serves four people.

What is Target's (TGT) turkey price per pound in 2024?

Target is offering turkey at 79 cents per pound, which is 20% lower than last year's price.

What is included in Target's (TGT) $20 Thanksgiving meal?

The meal includes a Good & Gather Premium Basted Young Turkey, russet potatoes, green beans, cream of mushroom soup, cranberry sauce, turkey stuffing mix, and turkey gravy.

What special offer does Target (TGT) have for Circle 360 members in November 2024?

Target Circle 360 members can get a free frozen pizza with same-day delivery orders from November 13-16, 2024.