Target has had a challenging year, with a notable decrease in sales at its physical stores. This has happened amid challenges such as inflation and an uncertain economic environment. Naturally, all of this has affected consumer behavior.
To counter the drop in customer traffic, the retail giant has implemented an aggressive strategy to regain public trust. With the arrival of the back-to-school season, Target has launched deals aimed at keeping its competitiveness in an increasingly challenging market.
Generous offers for back to school at Target
In response to the challenges, Target has made a key decision. It will keep 2024 back-to-school essential school supply prices unchanged, despite price increases in other categories. The store assures that more than 1,000 items will be available for less than $5, and school uniforms starting at $5.
Rick Gomez, Target's chief commercial officer, highlighted that this measure is essential to help families face the impact of inflation. In addition, essential items for college students, such as bedding and storage, will also be available for less than $40.
In addition to affordable prices, Target has launched new promotions for students and teachers. Target Circle members will have early access to discounts between July 6 and July 12, which will allow them to save even more on back-to-school items.
Discounts for students and teachers
Target has implemented significant discounts for students and teachers, which has caught the attention of the competition. College students will enjoy a 20% discount in the store until July 12, while teachers will have a 20% discount between July 20 and August 30.
Additionally, Target Circle members will be able to benefit from a 50% discount on an annual membership to the Target Circle 360 program. It will allow them to access special deals throughout the year. This generous strategy seeks to regain consumer interest at a key moment of the year.
Fierce competition for Costco
These deals represent a threat to companies like Costco, which has historically dominated the market for discounts on essential products. Costco has been a very strong competitor, but Target's aggressive promotions may attract a broader base of consumers looking for lower prices.
The increase in prices due to tariffs has caused consumers to adjust their shopping habits, which favors stores that can offer competitive prices. Target, by offering fixed prices and exclusive discounts, is taking the lead in this field.