Target Corporation (TGT) said Tuesday it is cutting prices on nearly 2,000 home, apparel and accessories products as the retailer steps up its value push ahead of the holiday shopping season.

The announcement builds on more than 10,000 price cuts Target has made over the past year. The retailer continues to focus on lower prices while maintaining its emphasis on style and design.

The move also follows comments from management during Target's Aug. 19 earnings call. Executives said value would remain a central part of the company's strategy as consumers remain selective about discretionary spending.

Target Expands Price Cuts Across Key Categories

The latest cuts cover women's, men's, infant and toddler apparel and footwear, along with a range of home products.

Target said select apparel and footwear items are now priced at least 20% below comparable levels last year. Meanwhile, its refreshed bedding assortment carries prices that are about 15% lower on average.

The strategy reflects a broader push across the retail industry to attract price-conscious consumers.

Walmart Also Steps Up Price Cuts

Reuters reported that major U.S. retailers, including Walmart Inc. (WMT) and Target, have been cutting prices to attract cautious consumers facing added pressure from higher gasoline costs tied to the Middle East conflict.

Target's move follows rival Walmart, which in August reported its slowest quarterly comparable-sales growth in six years.

Walmart said it would lower prices on about 11,000 products as consumers continue to face pressure from inflation and elevated gasoline prices, Reuters reported. The retailer's ability to cut prices was supported in part by $2.9 billion in U.S. tariff refunds.

For Target, the broader price-cutting campaign could help strengthen its value proposition as retailers compete for holiday spending.

TGT Price Action: Target shares were down 0.10% at $157.38 at the time of publication on Tuesday, according to market data.