Join me here on the General chat:
Followup LinkedIn post:
There is a lot to learn in here, in particular:
Target has identified four key factors that all multi-category retailers should be thinking about in the face of these trends:
1 - Right-size your inventory, particularly in declining discretionary segments. Everything else fails if you get this wrong. Target’s inventory is down 14% y/y, and discretionary inventory is down even lower at 19% y/y.
2 - Below $25 is a critical price point across the assortment. This must be highlighted to consumers, especially during shopping seasons.
3 - Invest in newness, on-trend and freshness.
4 - On weeks without shopping, promotions the only thing driving demand. Don’t chase unsustainable gains.