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Target groceries are getting a lot cheaper amid rising competition

Target is cutting prices on thousands of items storewide but in the current retailer grocery wars, how do these new prices really compare?
/ Source: TODAY

On Friday, Target announced they are slashing prices on “thousands of items” storewide but in the current battle between retailers battling for your grocery budget, how do these prices really compare?

Target says its price cuts will affect a wide variety of grocery items, from cereal and baby formula, to toiletries like razors and bath tissue. The announcement comes just after online retailers Amazon began slashing grocery prices as well ... at its recently acquired Whole Foods' stores nationwide.

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"We want our guests to feel a sense of satisfaction every time they shop at Target," Mark Tritton, Target's chief merchandising officer, said a statement. "Part of that is removing the guesswork to ensure they feel confident they're getting a great, low price every day."

So how do the prices really compare? '

Well, expect to pay $163 for a 6 pack of just over 23 oz. each of Similac Advance baby formula at Target, and $27 for a single unit of the same product at Amazon – if you multiple that by six in order to get the same quantity, it’ll run $162. Close, but Amazon wins. Target also comes in a bit more pricey for women's razors, with the Schick Hydro Silk TrimStyle at $14 at Target, but $13.27 on Amazon.

As for bath tissue, a 9-pack mega pack of Charmin is $25 on Amazon, and a comparable Charmin product runs for $10 in Target, who wins on that product by a mile.

But what about for basics like cereal? Honey Nut Cheerios is $4.29 on Amazon, but $4 on Target, and a bag of Doritos is $3 at Target, but $4.29 for the same size bag at Amazon. Target wins again. However, not true for a jar of Peter Pan Creamy Peanut Butter, which is $5.69 at Target, but $5.28 at Amazon.

Ultimately, as far as pricing goes, it appears to be a draw between these two superstores. If you're closer to a Target and need your item immediately, then shopping at the Bullseye may be the way to go. But if you're looking for the convenience of a home delivery option, Amazon is your best bet.

It is important to note that Target is available everywhere while AmazonFresh, Amazon’s food delivery service, is currently only available in select cities.

Also, to receive AmazonFresh products, you need to be a member of PrimeFresh. To shop at Target, you don't need a membership.

In addition to dropping prices on thousands of items, Target says it has eliminated more than two-thirds of its reduced prices and sales' callouts so shoppers can "more easily spot the savings."