Target offers full week of cyber sales to shoppers shunning in-store purchases during coronavirus

Target offers full week of cyber sales to shoppers shunning in-store purchases during coronavirus

November 27, 2020

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Spotlight Asset Group CIO Shana Sissel, Rosecliff Ventures founder Mike Murphy and Seventh Capital managing principal Monica Mehta on today’s markets and consumer confidence.

One day for cyber deals? Target says it's offering seven.

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The big-box retailer's move will help it capitalize on the increasing number of shoppers who have relied on the retailer's online services during the COVID-19 pandemic.

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The company's Cyber Week will kick off Nov. 29 and run through Dec. 5, including discounts in categories from electronics to toys, home décor, apparel and everyday essentials.

TARGET LETTING SHOPPERS RESERVE SPOTS IN LINE AS PART OF NEW COVID-19 SAFETY MEASURES

While closings intended to curb the spread of the deadly COVID-19 have forced many retail behemoths into bankruptcy, those with highly developed online operations have fared better.

Last week, Minneapolis-based Target disclosed that its online sales surged 155% in the three months through Oct. 31 as consumers relied heavily on their computers and smartphones to nab holiday gifts.

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A few months earlier, Target reported the largest quarterly revenue growth, including an online sales spike, in its 58-year-history. Online sales nearly tripled during the three-month period ended Aug 1, while same-store sales spiked 10.9%.

The Associated Press contributed to this report. 

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