Retailer Kohl’s Corporation (KSS - Free Report) has been ranked fourth in terms of web traffic on Cyber Monday trailing behind heavy weights like Amazon.com Inc. (AMZN - Free Report) , e-Bay and Wal-Mart Stores Inc. (WMT - Free Report) as per data released by comScore, Inc. (SCOR - Free Report) . However, Kohl’s left behind Target Corp. (TGT - Free Report) which shares the same industry space as Kohl’s.
In fact, since the Holiday shopping season began from Nov 1, 2016, the shares of Kohl’s have gained 23.2%, outperforming Target, which has exhibited a gain of 13.9% since the beginning of November.
Retailers strive their best to capitalize on this shopping spree of the customers during the holiday season which starts from Thanksgiving Day with early-hour store openings, huge discounts and promotional strategies along with free shipping on online purchases. Since the season accounts for a sizeable chunk of yearly revenues and profits, retailers grab every opportunity to drive footfall.
Shoppers flock outside brick-and-mortar stores as well as make frequent visits to official websites of the retailers in order to avail discounts and offers that are made available especially for the season. In 2016, the holiday season-to-date marked a 12% increase in desktop online sales corresponding with previous year.
As per the data, desktop online spending stood at $2.67 billion, up 17% year over year, representing the heaviest online spending day in history. Apparel & Accessories was the most favorite category on Cyber Monday, followed by Consumer Electronics and Computer Hardware.
Kohl’s left no stones unturned to benefit from the market during the Cyber Monday. The company offers its best deals and incredible brands at great prices on Cyber Days savings. This year it offered an additional 20% off both in-store and online on Cyber Days savings along with a plethora of other offers to avail from.
Further, the company offered free shipping services for three days starting Nov 27. It also offered additional offers through its loyalty program. As a result of these initiatives, Kohl’s Corp witnessed record-breaking online sales along with a solid brick-and-mortar traffic to stores on Thanksgiving Day and early Black Friday.
Target, also offered 15 % discount on all items online and in-store for two days, from Nov 27, through Cyber Monday on Nov 28. However, it seems the stock failed to surpass Kohl’s in its efforts to drive footfall.
Kohl’s has experienced considerable growth in its eCommerce business in the last few years. The company’s eCommerce sales have almost doubled since 2011 and increased at a compound annual growth rate of almost 40% in the last five years.
Kohl’s currently carrying a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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