Advertisements

TARGETS SALES TRIPLED IN THE PANDEMIC

Advertisements

You might think that I would be crazy reading the title of this article. Well, IM NOT! And neither are you. Because what you just read is right.

As we know 2020 took off with a storm but later off it turned into a nightmare. Just 2 months into 2020 and the news broke that “a deadly virus named Covid-19  was on the loose.” Now one might think what a virus can cause to the whole world. But one might be WRONG. Because it shook the whole world to its core.

Almost the whole world was on lock down. Some states or countries were on lockdown for 4-5 months. Lockdown means a complete shut down of a place meaning NO BUSINESS, NO STUDY, NO JOB, NO PLACE TO GO OUT, and even NO PLACE TO SHOP FOR ESSENTIALS TOO. No grocery store, shopping mall, or even a small general store was open. It was a really hard time.

Now at this time, no one would actually imagine that their business is doing good because clearly everything was on lockdown. But you know humans, right? We always adjust. Even if we don’t adjust ourselves we adjust our surroundings and environment. We make them work according to us rather than us to work according to them.

The Internet has played the most vital role in all this. At this point, I feel like it is safe to say that it has to be the BEST invention a man could make for him. Everything just a single tap away? Tell me something better, I’ll wait. Everyone and by everyone I mean every single one of the population started their businesses online. With not having the advantage to go out, they took advantage to bring home things with just a tap.

Now you might wonder of how would that work. They just create an online site. One of the great examples that one might quote is Target.

ONLINE SHOPPING AND TARGET

We have to say that for big businesses like Target, Walmart, and Kroger, the pandemic has worked wonders for them. Just because of the good quality they provide, people brought from them online.

Target has an online site that is www.target.com. Here, people can shop from around the world. In one of the recent interviews that were conducted, one of them said that the sales that Target conducted this year have been tripled from last year. And that Target reported the strongest quarterly sales from last year putting itself in competition with its rival that is Walmart that showed double growth in quarterly sales. (Not-too-far is still far I guess.)

HOW HAS THE PANDEMIC BENEFITED TARGET?

Since the pandemic made the people change the way of shopping, the Target corporation has benefitted a lot from it. Shares of Target have jumped through hurdles of 12% in Wednesday trading of new highs.

Target stated that its comparable sales were 24% higher and its revenue had reached up to $22.9 billion. To be honest, the profits were higher than expected.

Target is further making plans to have a back-to-school shopping season for people since a lot of people are still studying online rather than in-classroom, face to face classes. It is also planning on an extended holiday shopping season for its customers. They might even open the online shopping for it earlier than October according to Target’s CEO, Mr. Cornell.

Making more and more plans for a much better revenue and income than ever I think they have just raised the bar higher than our heads. The company is sure about something!