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Target (TGT) Makes a Mark With Bumper One-Day Sales Online

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Target Corporation (TGT - Free Report) announced that it has recorded the highest online one-day traffic and sales this year on Jul 17. The massive sales were primarily backed by a one-day sale on the company’s exclusive and national brands, which coincided with Amazon’s (AMZN - Free Report) Prime Day.

Small appliances, beauty and personal care, baby gear, home and tech items drove most of the sales. The company had a broad range of offers for its customers — ranging from a free two-day shipping on most items on Target.com to extra 5% discount for Target REDcard holders. Other customers were also offered free two-day shipping on shopping of at least $35. Per management, almost 90% of Tuesday’s Target.com orders will be fulfilled by Target stores.

Target is trying all means to adapt to the changing retail ecosystem. The company is deploying resources to enhance omni-channel capacities, come up with new brands, remodel or refurbish stores and expand same-day delivery options to expedite the shopping process. Supported by such endeavors, the company has gained around 18% so far this year, outperforming the industry’s rise of 12%.

Target Corporation Price, Consensus and EPS Surprise

Target Corporation Price, Consensus and EPS Surprise | Target Corporation Quote

 

With an aim to capture the booming online grocery delivery market, Target has teamed up with popular online grocery delivery service Instacart. The company has also bought Internet-based grocery delivery service Shipt to provide same-day delivery of groceries, essentials, home, electronics along with other products.

The company has also rolled out the Target Restock program that allows customers to restock on essential items online and get them delivered at their door steps by the next business day for a nominal charge. Further, in order to improve supply chain and expand delivery capabilities, Target has taken over Grand Junction. This transportation technology company provides a platform that allows retailers, distributors and third-party logistics providers to manage local deliveries through a network of over 700 carriers.

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