The new CEO of Target since August has aggressively thrown in the kitchen sink at trying to attract customers to Target stores in Canada this past holiday season.
With 133 stores, Target offered 70,000 products on the shelves, 30,000 of which were new items for the holiday season. That is over 40% of the shelf! Target also added more exclusive items and designer partnerships to promote what it calls “newness”.
To address their prior empty shelf issue, Target got employees actively involved in re-ordering to make sure product was available. The company also increased their efforts to have comparison shopping statistics available to shoppers. They also price-matched in the store and for on-line purchases.
A big effort required for even a bigger looming decision.
Did Target make a mistake coming to Canada? The financial investment of over $1.8 billion made in 2011 might have been a big but not tragic mistake. Allowing the company to continue to bleed without a vision of a successful future will be a bigger one.