Target focusing on last-minute toy sales and discounts through social media to increase holiday numbers from last year's somewhat low 0.9% rise in sales growth at stores open at least one year
December 5, 2011
– Target Corp. will offer last minute toy sales on big brands and discounts through social media, as it attempts to raise holiday numbers from last year’s ‘disappointing’ 0.9% sales growth at stores open at least one year, Reuters reported Nov. 30.
This year, Target deals will include an "Almost Last Minute" sale on items like electronics, video games and kitchenware, and will run from December 8-10.
Same-store sales grew by 5.5% last November and are expected to rise in the low-to-mid single-digits this year. Up to 40% of Target's sales of toys occurs during November and December, according to the company’s VP of toy merchandising Stephanie Lucy. Last year’s low sales growth is attributed to lower-than-expected toy sales.
In a deal that began at the end of November, Target is offering up to 50% off a specific toy everyday until Dec. 24.
Via Facebook, Target shoppers can receive $10 gift cards with minimum purchases of $50, and another 50% off deal will be available through the site until Dec. 10.
Target will release Black Friday sales figures later this week.
The primary source of this article is Reuters, London, England, Nov. 30, 2011.