And the store with the deepest holiday discounts is … Target!
The mega-retailer is expected to hit a bullseye by hosting a four-day pre-Black Friday sale that slashes prices on nearly 170 toys in-store and online through November 23, according to Citi’s Holiday 2011 Toy Pricing Survey.
Discounted items will include electronics, home decor, fashion and toys.
Not to be outdone by Walmart, the traditional holiday price-cutting dominator, Target stepped up its callout game, particularly in the third week of November, Citi found. It was during this time that Target announced “the lowest holiday sales” on must-have items like the Disney Princess Ultimate Fairytale Kitchen (marked down $50 from $149.99) and Buzz Lightyear Spaceship (priced at $44.99).
Offering free shipping online is expected to drive Target’s site traffic despite numerous “disruptions,” or sales announcements, that could overshadow business on Thanksgiving, Thanksgiving weekend and Cyber Monday (the Monday after Thanksgiving), Citi says.
Walmart and Amazon, for their part, were found to be less “aggressive” with price cuts this year than Target, with Walmart hosting a pre-Black Friday sale special through November 23 and Amazon offering a Black Friday Deals Week that cuts toy prices on both a dollar and a percentage basis. For example, Rock Star Mickey is being marked down 25%, while select LEGO furniture is getting cut by $25.
Target also brought its A-game to the Black Friday madness by opting to open “significantly earlier” at midnight this year. Sure, Walmart will open at 10 a.m. on Thanksgiving day, but cart-by-cart, Citi found Target to offer the best bang for consumers’ buck.
Take a look at the chart below for a breakdown:
Photo: Company websites; Citi Investment Research and Analysis