American big box department store chain Target has high hopes from holiday season especially as it has put up three disappointing quarters.
As per media reports, Target is trying to cater to value-minded shoppers with prominent price signs, a holiday price match guarantee and budget-friendly gift items.
In US, consumers are feeling pinched by inflation.
Target is also trying to cut through the noise of a more promotional holiday season. The big-box player, apart from creating its own merchandise, has also, therefore, struck exclusive deals with brands.
According to data from Placer.ai, which tracks retail foot traffic, weekly store traffic at Target is down when compared on both a year-over-year basis and when compared with pre-pandemic store traffic in 2019. It was down 6.1 per cent year over year and down 4.7 per cent versus 2019 for the week of 5th December, the most recent data available.
It is worth noting that Target’s most sales come from apparel, home goods and other discretionary merchandise — the very items that aren’t selling like they did before.
