Target Joins in Pushing Start of Holiday Shopping to October
(Bloomberg) -- Target Corp. is launching a discount promotional period in October, joining other retailers in pulling the start of Christmas shopping to before Halloween amid mounting supply-chain challenges and the possibility of merchandise shortages.
The Target Deal Days promotion, Oct. 10-12, will offer discounts on thousands of items, including video games and kitchen appliances, the Minneapolis-based company said Wednesday. Target offered a similar savings period in June, overlapping with Amazon.com Inc.’s two-day Prime Day sale.
In a first for Target, the October Deal Days discounts will be available at its physical stores in addition to online and on its mobile app. The retailer also promised to match its own lowest price on any item from Oct. 10 through Dec. 24, so shoppers don’t have to worry that they’ll miss out on deeper discounts later.
Generally, Black Friday in late November is the kickoff to the most important period of the year for U.S. retailers. Last year, during the first holiday season in the pandemic, retailers also encouraged shoppers start spending earlier. This year, retail chiefs are saying the situation with the supply chain is more challenging than last year and there are signs that consumer demand is higher.
Other corners of the retail sector are also planning ways to boost early holiday shopping. Consultant Deborah Weinswig at Coresight Research is renewing her 10/10 shopping holiday, in which about 50 retailers including Macy’s Inc. and Guess? Inc. use live streaming to push merchandise to consumers. The event mirrors China’s Singles’ Day and aims to give retail executives insight into consumer behavior for the holiday season.
Target shares were up 0.5% in premarket trading Wednesday. The stock has risen 32% this year through Tuesday, outpacing the 16% rise of the S&P 500 index.
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