Walmart vs Target: Who has lower prices?

Walmart has championed itself on its low prices for years. But is it really the cheapest of the big box discount stores?

We compared a  Walmart with a Target store just down the street, and came up with some eye opening results.

Target for Fashion, Walmart for Price

Several women shoppers we spoke with told us they love Target for trendy fashion, but shop Walmart for low priced staples.

They told me that in their eyes, Walmart tends to be cheaper than Target.

But three recent national reports, including one from CNN and Money Magazine claims Target is now making a run at Walmart for "low, low prices."

We Go Undercover

So we decided to check for ourselves. Using Google maps I found a Target and Walmart located just 3 thousand feet apart from each other.

They were the closest together Target and Walmart in the Cincinnati area, and therefore would make the best comparison.

I went undercover, with blue jeans and ballcap to compare prices the same afternoon. In addition, I chose a 15 item "basket" in advance, so I would not be swayed by any sales that caught my eye, or fancy endcap displays.

Items ranged from food to health care to two new DVD movies, what you might buy on a shopping trip.

Walmart Typically a Penny Cheaper

Surprise number one? Walmart undercut Target by 1 or 2 cents on most items. Among them:

• 1 gallon Whole milk, store brand: $2.59 Target, $2.58 Walmart.
• Pampers diapers, standard package, $8.99 Target, $8.97 Walmart.
• Big box of Tide detergent: $17.99 Target, $17.97  Walmart.
• Flintstones Vitamins, small, $6.19 Target, $6.18 Walmart.

In many cases Walmart was lower than Target by a penny or two, giving the appearance that they watch their competition closely.

End of story? Hardly. Because surprise number two was that on some items, Target was clearly cheaper.

Target Makes Big Price Cuts

Example: Oreo cookies: A recent price cut reduced Oreos from $2.99 to $2.79 at Target, but they were still $2.98 at Walmart.

But we found a much bigger spread in the Movie and CD department. The DVD of the Academy Award winning movie the King's Speech was just $10 at Target (non Blu-Ray version), but $19.96 at Walmart, almost $9 more.

It wasn't just a one item fluke: The DVD of the recent action movie the Green Hornet was also cheaper at Target, $16.99 compared to Walmart's $18.

And the Winner is....

So despite Walmart's lower prices on many items, Target came out our low price winner when I plugged all the numbers into an Excel spreadsheet .

Our "basket" totaled:

• Target:     $123 dollars, and change.
• Walmart: $132 dollars, and change.

Walmart has issued a statement responding to these recent reports saying " we are committed to offering our customers low prices. If customers find a lower advertised price, we'll match it every time."

But shopper Beverly Bean's not surprised at all by our findings. She said "it depends, sometime you can find better deals at Target. It depends on what you're looking for!"

The Bottom Line

A footnote: When we removed the two DVD's from our Excel spreadsheet, Walmart came out the winner:

• Walmart came to $94.
• Target came to $96.

Indeed, CNN says if you are just buying groceries, Walmart still offers a bigger selection at a lower price in most cases. But on movies, books, music, and other items Target can be cheaper.

In addition, Target offers holders of its Redcard store credit card a 5% discount on many items. Walmart does not offer any such discount.

The bottom line: don't assume any single store has the lowest price on everything. If it's an expensive item, you may want to check with both stores before you buy, so you don't waste your money.

 

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