Target Beats Growth Expectations Again

Submitted by News Desk on

Minnesota based retail giant Target has beat analyst expectations  with second quarter growth up 8.5%, continuing to climb even after the growth fueled by the pandemic.  Total revenue rose to $25.16 billion compared to the same period last year while profits also soared.  Apparel grew at double digit rates, followed by essentials, beauty and then grocery.

In addition to in store growth, a surprising detail emerged, Target’s curbside pickup continued to grow despite many thinking that once the danger from the pandemic subsided, shoppers would return inside.  But what many Target customers have learned was that their curbside pickup orders were always ready within two hours, and often even less than two hours, making it easy for consumers to buy stuff without having to plan in advance.  Customers have really latched onto Target’s two hour curbside pickup with the number of shoppers using this free service climbing every month.  Target’s website and app to buy and pick up have also proven to be easy for shoppers to use.

Dan Easley of Texas Economics said, “Shoppers embraced Target’s same-day curbside pick up model.  If they have to go out for a couple errands, they can place their curbside order just before leaving and by the time they are done with their errands, most likely their Target order is ready for pick up.”  Also helping Target is their customer service, known for friendly associates, clean stores, and accurately priced items.  Target is known for selling higher quality products compared to Walmart, but also costs slightly more than Walmart, but what you get in return is a better experience added Easley.

inside a remodeled target store