And changes made during the pandemic once
unthinkable have worked so well that they may
become the new norm.
For example, Target closed all of its stores on
Thanksgiving, traditionally the starting gun
for the holiday season, rolling out discounts
and specials early and over a broader period to
control traffic in stores.
It said that it will do it again in 2021 and
some industry watchers believe Target may
not be alone.
“Despite disruptions to the traditional pattern
of holiday trade, retailers were able to thrive if
they put their best foot forward and stimulated
consumers to buy across the whole season,”
said Neil Saunders, managing director of
GlobalData Retail. “In our view, this means that
it is even less likely retailers will return to the
big sales bonanza of Thanksgiving and Black
Friday even when the pandemic is over. Target’s
decision not to open on Thanksgiving of 2021
underlines this point.”
Target gained market share in all five its core
merchandise areas. Sales were strongest in its
home and furniture departments, even as it
was forced to devise new strategies during a
period when store aisles are typically teaming
with customers.
It aggressively discounted prices starting in
early in October to get an early start on an
unprecedented shopping season, offsetting
the Thanksgiving closure of stores. Black Friday
doorbuster deals went online as retailers tried
to keep customers engaged while mobility was
restricted by the pandemic.