Target: The Top eCommerce Player of 2020?

TARGET, one of the most renowned and leading retail store chains in the United States, is all geared up to emerge itself as a top e-commerce player in the year 2020 amongst all the market giants. It seems like Target’s investment in Digital Marketing has started bearing the fruits and now it’s time for TARGET to reap them.

Target’s sale has been projected to be more than double in 2020 if we compare the same with the year 2017.

“At such a time where brick & mortar stores are struggling each day to keep up with the rapidly changing retail landscape, Target has used its trump card and seems to directly have hit the bullseye,”

Cindy Liu, the forecasting analyst of eMarketer during the release said that, “Store renovations & expanding fulfillment promises on the same day, such as direct store pickups, drive up and delivery using Shipt, are paying off very well. Target has strategically developed a plan to smoothly process and fulfill orders from within the store itself, along with ensuring that customer demands for convenience and speed are met in-store as well, while catering to the huge online market.

Another important aspect that Target has been climbing up the ladder very well using the digital marketing potential was its sales from the toy segment in the year 2019 which rapidly increased. While the in-store sales in this segment were found to be overall flat which was like a disappointment for the executives and analysts. However, Target’s online toy sales grew rapidly around 12% year on year during the fourth quarter, as per the 1010 data report. Also during a survey, it was found that Target has taken some share from Amazon as well in the online toy sales.

Shipt acquisition by Target has also provided the retailer with more options for delivery, while Target has also worked upon and expanded its pickup & drive-up capabilities. This has allowed Target to offer more options to the consumers, whereas store fulfillment has tremendously helped to make online orders more efficient, effective and much profitable.

Some Statistical data that proves Target’s tremendous growth:

• Target overruled three major competitors to become the 8th largest e-commerce player in the United States of America, as per the eMarketer’s latest rankings of market share. This rank marks the entry of the giant i.e. Target in the top 10 list.

• It is assumed that the Target’s e-commerce business will be touching new horizons with an expansion of approximately 24% to $8.3 billion in the current year. eMarketer has also estimated giving Target 1.2% of the market share in the year 2020, according to an emailed press release. Further moving in its journey to the No.8 Rank, Target has edged past Qurate Retail Group, Costco & Macy. ​

With all kinds of strategies adapted by target day on day, along with acquisitions happening at a rapid rate, Target’s investment in its digital marketing is tremendously helping them grow with a huge success rate. Looking at the current analysis, the day is not far when Target may enter the top 5 and in leaps and bounds, will start ruling the market.