Retailers, consumers and prices
It will open smaller stores in urban markets. It will add its PFresh food concept into hundreds of stores, boosting customer traffic. It will explore overseas expansion in Canada, Mexico or Latin America.
And it will celebrate the Super Valenbowl!
Michael Francis, Target’s chief marketing officer, said the retailer is ready to reclaim seasonal events in a “bolder and more dominant way.”
It did that during the busy Thanksgiving holiday shopping weekend. It held a two-day sales event — online on Thanksgiving day and in stores on Friday — that it said resulted in a double-digit rise in Black Friday traffic compared with last year.
At the National Retail Federation’s annual convention earlier this month, retail executives and analysts said they were worried there would be no big event to get consumers back into the stores and get them shopping until the back-to-school season.
Still recovering from the holiday spending and watching jobs evaporate by the day, it appears consumers don’t intend to jump back into shopping for Valentine’s Day, the first main holiday since Christmas.