Target’s Digital and Omnichannel Retail Strategy Brings New Customers

Targetdigital

Target announced its fourth quarter and full-year 2015 results on February 24, 2016.

For full-year 2015, Target’s comparable sales grew 2.1 percent, comparable traffic increased 1.3 percent and Adjusted EPS increased 11.3 percent to USD 4.69.

Target increased the retail presence with Omnichannel retail strategy and saw the Mobile retail sales increase by over 2.5X with Digital Channels sales increasing by 34 percent, contributing to an overall 1.3 points increase in retail sales.

Target saw the highest growth from  signature categories (Style, Baby, Kids and Wellness). Comparable Sales in Q4, 2015 were primarily driven by increased traffic, proving that Target has focused on the right strategic priorities.

The options that make for a flexible shipping and fulfillment are at 30 percent of all digital sales. Order Pickup has grown more than 60 percent YOY, making Omnichannel retail as the growth are that big box retailers need to focus on for 2016.

Targetmobile

Coupled with a Digital focus, Target’s Brand Strategy is focused on targeting upscale audiences with products and campaigns that resonate with mobile audiences. Research from Nielsen shows that Target is the preferred retailer among Upscale Millennials.  Target has focused on capturing the upscale Millennial market with a strategy focused on designer partnerships and niche home product lines. Target has continued to build presence in Digital with a focused content strategy that engages audiences across social networks and search advertising.

 

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