💬 Quoted… “Value.”

• Target execs used this word 👆 17 times and variations of “affordable” seven times on a call with investors yesterday, as it reported strong earnings for Q3. And if you thought we miswrote “Target” instead of “Walmart” – you wouldn’t be entirely wrong. Target, which has traditionally relied more on consumers’ discretionary spending, is making a concerted effort to appeal to budget-conscious shoppers. The bullseye retailer has struggled to improve sales as shoppers focus more on essentials – whereas Walmart, which draws more than half of its annual revenue from groceries and is known for low prices, has beaten analysts’ expectations on earnings and revenue for the past five quarters. Also yesterday: Target CEO Brian Cornell said customers are giving them “a big thank you” for putting some products inside locked glass cases to prevent theft, and that this move hasn't had a measurable impact on sales or in-store traffic. However – 26% of consumers surveyed by Coresight Research in August said they would shop elsewhere if their local store put items under lock and key, and 26% said they would move online.

🦃 Stat of the Day: Thanksgiving dinner is expected to be cheaper this year. According to the American Farm Bureau Federation, the average cost of a dinner for 10 people will be $61.17, down 4.5% from last year’s record-high but still up 25% compared to 2019.

🤔 Did You Know?... 57% of Americans now say science has had a mostly positive impact on society, down from 73% in 2019, per Pew Research Center.

📰 Worth a Read: Coyote vs Acme and the blockbusters that may never be seen → (BBC Culture)