Walmart’s success with groceries and value-conscious shoppers versus Target's struggles in discretionary categories really reflects broader economic pressures, that like you pointed out, is starting to shift. The shift in priorities while the economy is in flux is an interesting observation. Do you think Target's investments in premium collaborations or remodels will help them regain footing, or should they refocus on everyday value to stay competitive?
It’s a great question. I personally think Target’s investments the last decade have been really well done. Pandemic and inflation notwithstanding, I think they would actually be creeping up on Walmart’s market share slightly. I think as the economy comes back and wages keep going up, Target will be perfectly fine. You can’t beat Walmart at their own game, you have to offer consumers something slightly different, which they do.
Walmart’s success with groceries and value-conscious shoppers versus Target's struggles in discretionary categories really reflects broader economic pressures, that like you pointed out, is starting to shift. The shift in priorities while the economy is in flux is an interesting observation. Do you think Target's investments in premium collaborations or remodels will help them regain footing, or should they refocus on everyday value to stay competitive?
It’s a great question. I personally think Target’s investments the last decade have been really well done. Pandemic and inflation notwithstanding, I think they would actually be creeping up on Walmart’s market share slightly. I think as the economy comes back and wages keep going up, Target will be perfectly fine. You can’t beat Walmart at their own game, you have to offer consumers something slightly different, which they do.