New Orleans, Louisiana 2021-01-13 10:15:47 –
Target’s strong sales streak expanded throughout the pandemic-covered holiday season after hard pushes online and increased efforts to provide alternatives to customers seeking to minimize risk.
Retailers reported on Wednesday that online sales surged 102% between November and December. Store sales, more than a year after opening, increased 4.2%. By consolidating trips to different stores during the pandemic, customer traffic increased by 4.3% and average sales per customer increased by 12.3%.
And the changes made during the once unthinkable pandemic worked so well that they could become the new standard.
For example, Target closed all stores at Thanksgiving. This has traditionally been a holiday starter pistol, offering discounts and specials early and over a wider period of time to control store traffic.
It said on Wednesday that it would do it again in 2021, and some industry watchers believe the target may not be alone.
Neil Saunders, Managing Director of Global Data Retail, said: “In our view, this means that even after the pandemic is over, retailers are even less likely to return to Thanksgiving and Black Friday’s big sales jackpot. It won’t open in 2021 Thanksgiving. The target decision emphasizes this point. “
Target has gained market share in all five core product areas. Sales were strongest in the housing and furniture sectors, even though store aisles were usually forced to come up with new strategies when they were teaming with customers.
In order to offset the closing of Thanksgiving and start the unprecedented shopping season early, we have aggressively reduced prices since early October. Black Friday’s Door Buster deal went online as retailers tried to stay engaged with their customers while the pandemic restricted mobility.
Customers are enthusiastically responding to Target’s efforts to reduce virus exposure through same-day store receipts and deliveries for orders. Same-day services increased 193% between November and December, the company said.
Even if pushed online, Target’s 1,900 locations became even more powerful as the infection surged and people tried to stay home. According to the company, drive-up services for shoppers grew most rapidly during the holiday season, with approximately 95% of all sales being achieved by target stores in two months.
The Minneapolis company will report its full financial results for the fourth quarter next month.
Target continues to thrive in whirlwind retail environment – New Orleans CityBusiness Source link Target continues to thrive in whirlwind retail environment – New Orleans CityBusiness