Target Corp. comparable sales in the combined November/December holiday period grew 17.2%, driven by a 4.3% increase in traffic and a 12.3% advance in average ticket, and aided by home merchandise sales.
For Valentine’s Day this year, Target is loading in gift items, with an emphasis on inexpensive cooking and crafting, for at-home celebrating.
In the opening keynote address kicking off the virtual Chapter 1 of the National Retail Federation Big Show, Mike George, president and CEO of Qurate Retail Group and NRF chairman, spotlighted how the retail sector reacted to the COVID-19 pandemic and social turbulence over the past year, emphasizing how the industry worked to improve conditions in communities around the United States.
THG Holdings PLC, a company headquartered in the United Kingdom, has agreed to acquire Target Corp.-owned online skincare and beauty brands retailer Dermstore.com for $350 million in cash, subject to regulatory approval in the United States.
Target is offering consumers contactless same-day pickup and delivery options up until 5 p.m. on Christmas Eve with no membership required.
Based on early analysis of shopping patterns, 1010data has forecast a 5% increase in year-end sales for the holidays, with digital up 50% and store spending down 1% versus the 2019 season.
The COVID-19 pandemic hit Ulta Beauty’s financial results for the third quarter ended October 31, but CEO Mary Dillon said the company is coping with new realities.
According to a Placer.ai whitepaper report, the 2020 holiday shopping season kicked into high gear long before the leaves changed colors, with consumer concerns over unemployment and uncertainty about meeting-up with friends and families to exchange holiday gifts prompting consideration of new ways to celebrate, not to mention Amazon’s shift of Prime Day.
Target sales made big strides in the third quarter with online revenues, supported by omnichannel services such as buy online pickup at store, a critical driver, even if the stores themselves had a strong performance.
Target is celebrating the one-year anniversary of its loyalty program, Target Circle, and will be offering its nearly 80 million members more ways to save big this holiday season.
Target and Ulta Beauty have formed a strategic, long-term partnership to transform the beauty category with Ulta Beauty at Target. The “shop-in-shop” concept will offer established and emerging prestige brands online and in select Target locations nationwide beginning next year.
As it looks forward to the holidays, Target is keeping up the promotional pressure, and countering aggressive discounting from key rivals Amazon and Walmart, even as it trumpets the success of its October 13 to 14 Deal Days effort.