Due to a relatively disappointing drop in sales last holiday season Target is implementing a new strategy this year by reducing the number of promotions it runs.
As a store that constantly ran holiday sales last year this shift will be noticeable for regular shoppers. While Target says they will continue to execute promos, they will be fewer and more “meaningful” with a repositioned focus on an EDLP strategy instead. Target wants to establish itself as a stronger player for everyday household items and a destination for private label brands. JoyLab, Goodfellow & Co., and Project 62 will be among the proprietary lines Target will emphasize in the coming months.
This new focus is a great example of a brand adapting to the changing culture of brick-and-mortar retail shopping. Much of Target’s sales decline last year was due to competition from Amazon, a lack of targeted marketing, and a missed opportunity with selection of stocking stuffers. By being proactive, creating new merchandise, and refiguring their marketing strategy Target can hope to see an increase in holiday sales this season.