Did Target’s Deal Days Hit the Mark?
Consumers are flocking to savings events, another independent analysis affirms. On the heels of market research showing that Amazon Prime’s recent Early Access Day enticed consumers seeking discounts on both early holiday gifts and everyday essentials, a new report highlights the success of Target Corp.’s recent Deal Days.
Held Oct. 6-8, Deal Days featured savings up to 50% on an array of branded items and Target’s store brand products. In addition to the discounts, Target offered incentives like a $15 gift card for shoppers who bought $50 on foods and beverages using same-day services.
According to a review of foot traffic from Placer.ai, Target’s three-day shopping event boosted in-person shopping. Average daily visits to Target stores during Deal Days were up 28% from 2021 and up 57% from the pandemic-defined 2020.
Placer.ai’s researchers concluded that the retailer got a bump from including a weekend day in the shopping event. “This year was the first time that a Deals Day event fell on Saturday – the brand’s most popular visiting day – and foot traffic data indicates that the overlap with Target’s weekly visit peak gave this year’s retail holiday a significant boost,” wrote Shira Petrack on the Placer.ai’s blog post on the new report.
The research firm also supported the notion that discount events are resonating with inflation-strapped shoppers as the holidays roll around. “Retailers are still struggling with inventory stockpiles, consumers are gearing up once again for an extended holiday season, and more and more shoppers are on the hunt for value. Target’s Deal Days success highlights the potential of company-led owned sales events to drive traffic during traditionally slower periods,” Petrack noted.
As Target copes with high inventories that impacted its second fiscal quarter, the retailer is going right into its next big promotion. Shoppers can browse weeklong Black Friday Deals three weeks earlier than in 2021 and also take advantage of Deal of the Day, both available to shop now. “We know our guests are eager to start their holiday shopping and Target is here to help – and help them save big, whether that’s on gifts that family and friends are sure to love or stocking up on all the essentials for a season filled with festive gatherings,” declared Christina Hennington, Target’s EVP and chief growth officer.
Minneapolis-based Target Corp. is No. 6 on The PG 100, Progressive Grocer’s 2022 list of the top food and consumables retailers in North America, with nearly 2,000 locations.
