Find in the news:
BY COUNTRY

Target's brands are breaking sales records



The retailer reported a significant increase in sales in the first quarter of 2021 and increased consumer interest in its brands.
Target - Depositphotos

Last year, the main driver of sales for Target was online ordering, whose popularity increased after the coronavirus pandemic jumped by 141%. At the same time, the growth in interest in the delivery service over the past year was 90%. This year, amid a gradual return of consumers to physical stores, there was a 50% decline in online sales. However, this did not stop Target from setting a new record.

According to the company's report, in the first quarter of 2021, sales increased by 22.9% compared to the same period last year. At the same time, operating profit in the first quarter rose by 407% to $2.4 billion. It is noted that the growth was achieved mainly due to the physical stores on which the company's management made main bets. With the relaxation of quarantine and vaccination, customers are increasingly returning to the usual way of shopping in physical stores.

Time has shown that the decision to invest in the development of the network of stores - to open new stores in various formats, update existing stores and improve the quality of service - was the right one. As previously announced, Target plans to spend $4 billion annually on these issues. And this tactic fully justifies itself.

The report also highlights the increasing consumer interest in Target's brands, some of which are also gradually increasing. For example, the sports apparel brand All in Motion, introduced in January 2020, brought in more than a billion dollars in its first year in existence. Recently introduced brand Mondo Llama, which produces goods for creativity, has also aroused the lively interest of consumers.

Today, this retailer owns the most significant number of its brands, compared to Walmart and Amazon. For example, according to a report from the Profitero platform, Target's brands account for 27 percent of its food and beverage offerings. In household chemicals, that share is 21%, and health and beauty products account for 17%. It can be safely assumed that the number of the retailer's brands will only increase soon.

Target representatives are very optimistic, rightly expecting that further vaccinations, many holidays, and the beginning of the school year will contribute to an even more significant increase in-store traffic, and therefore the establishment of new sales records.

Photo credit: depositphotos.com.


More about shopping malls in the USA



Sep 20, 2021, Japan:
The top floor of the world's most popular Japanese department store now has its cafe.
Sep 20, 2021, USA:
The owners of the American Dream decided not to wait until the luxury "Avenue" was at least half full.
Sep 17, 2021, USA:
The retailer is ready to invest in retail development in the U.S. market, which was hit by the crisis.
Sep 17, 2021, Spain:
Worldwide sales are recovering, both at retail and through online channels.
Sep 15, 2021, France:
The total area of the new retail space in the Madeleine area will be 724 square meters.
Sep 14, 2021, USA:
The 30-day subscription, which allows you to buy one taco a day, costs $5 and $10.
Friend
and Follow
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Vegas Crocus City GLA:1 199 078 SF
ADDRESS: 61 km Moscow Ring Road
Russia . Moscow region
Vegas Crocus City
Optimum Outlet GLA:421 127 SF
ADDRESS: ve Eglence Merkezi | Istiklal Sokak No.2/B Yenisahra/Atasehir
Turkey . Istanbul
Optimum Outlet
Dania Pointe GLA:975 000 SF
ADDRESS: 292-344 North Bryan Road, Dania Beach, FL 33004
USA . Fort Lauderdale
Dania Pointe


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us