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Who Has Cheaper Prices? Wal-Mart Or Target?

A Wal-Mart sign in Duarte, Calif.

hide captionA Wal-Mart sign in Duarte, Calif.

Robyn Beck /AFP/Getty Images

It's probably safe to say that Wal-Mart has very cheap prices and it's likely a popular presumption that it has the cheapest prices. But a new study from Customer Growth Partners found that during the first three months of 2011, Target pricing was 0.6 percent lower than Wal-Mart's.

The Minneapolis St. Paul Business Journal reports that it is the first time Target has beat Wal-Mart in pricing since the CGP started comparing prices at neighboring stores in four different states.

The Business Journal adds that in April, Wal-Mart retook the honor with prices 2.8 percent lower than Target:

Unless, that is, you count Target's Redcard loyalty program, which offers customers a 5 percent discount off of purchases. If you include that, then Target was about 2.3 percent cheaper than Wal-Mart in April, CGP said. CGP estimates that only about 15 percent of Target's sales go through Redcard.

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