Target and Amazon will start offering holiday deals in October aimed at price-sensitive shoppers

By Ciara Linnane

Target will hire 100,000 additional staff for the holiday season

Target Corp. and Amazon.com Inc. announced competing sales events planned for October early Monday, with a focus squarely on price-sensitive consumers seeking value after a long period of inflation.

Target announced thousands of deals and savings starting with its Target Circle Week, which will be held from Oct. 6 to 12.

The company (TGT) plans to hire about 100,000 additional seasonal workers to be deployed across its stores and supply-chain facilities to support pickup, drive-up and home-delivery services.

"Consumers are getting ready for one of the most exciting times of the year, which is why we're leaning into the magic of Tarzhay like never before-with an assortment, value and experience only Target can deliver," said Rick Gomez, executive vice president and chief commercial officer, in prepared remarks.

The assortment will include 50% more new items than last year with more than half of its toys priced at less than $20 and thousands more stocking stuffers priced at less than $5. The company will also offer deals on fall favorites, everyday essentials and more, available in-store and online.

More than half of its holiday assortment will be exclusive to Target this season.

The Circle Week offer will include the Deal of the Day program, which will return Nov. 1 and last through the rest of the season for members of its Target Circle loyalty program.

Amazon (AMZN), meanwhile, said it would offer Prime members access to early holiday deals across a range of categories in a promotion that will take place in 19 countries: Australia, Austria, Belgium, Brazil, Canada, France, Germany, Italy, Japan, Luxembourg, Netherlands, Poland, Portugal, Singapore, Spain, Sweden, United Kingdom, Turkey, and the U.S.

Prime Big Deal days will return starting in October, the retailer said.

Retailers have been working to draw in shoppers who are wary of spending after the rising price of many essentials.

Target already announced price reductions on about 5,000 frequently purchased items in many markets ahead of the Memorial Day holiday weekend.

Its recent earnings showed the strategy is starting to work. Same-store sales for clothing were higher in the second quarter and discretionary categories improved overall.

For more, see: Here's why the biggest retailers are crushing smaller chains in a tough economy

More than half of the company's branded holiday food and beverage line will be priced below $5, and 80% of Target Wondershop holiday items will be priced at $10 or less.

Target's front-of-store Bullseyes' Playground value section will include 50 gifts for the family priced below $5. That section will be offered in nearly 200 stores.

The company will offer more than 1,000 toys from brands, including Disney (DIS), Lego and FAO Schwarz. Beauty products will include items from brands Papatui, Being Frenshe and fine'ry.

And it's bringing back a partnership with U.K. retailer Marks & Spencer, introducing new food and beverage items and for the first time, new home items such as London-themed ornaments and mugs priced below $20.

The stock was up 1.4% and has gained 7.8% in the year to date. Amazon was down 0.7%, but has gained 21% in the year, while the S&P 500 has gained 18%.

-Ciara Linnane

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09-16-24 1008ET

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