In one sense, five years ago really wasn't that long ago. In another sense, it feels like a literal lifetime. Mega retailers Walmart and Aldi are reminding consumers that five years ago actually felt like eons ago -- and it's all thanks to some special holiday promotional pricing.

Target, Walmart and Aldi — are promising to cut prices for the holidays after four years of higher costs. Why it matters: Discounts were hard to come by during the inflation crisis but now retailers are getting more competitive to entice shoppers to spend.

Major food retailers ALDI and Walmart are trying to beat food inflation by offering affordable Thanksgiving meal deals.