Target's holiday season got off to a strong start with a 3.2% year-over-year increase in customer traffic

According to Placer.ai's analysis, Target, the second-largest retailer in the United States, had a very strong start to this year's holiday season.

Data from Placer.ai shows that Target's customer traffic (both online and offline) during this year's Deal Days promotion (October 3-9, 2022) increased by 3.2% over last year and doubled from the previous week.

Target said it offered deep discounts on hundreds of thousands of products during this year's "Deal Days," its largest promotion to date. Placer.ai also analyzed traffic to Target stores nationwide during Deal Days and found that the average daily visit to Target stores in October 2022 increased by nearly 28% year-on-year and by about 57% compared to the same period in 2020.

Specifically, traffic on Thursday, October 6 was 6.1% higher than the average visit level in the previous four weeks, traffic on October 7 was 7.6% higher than the previous four weeks, and traffic on October 8 was 4% higher than the previous four weeks.

It is learned that as experts predict that holiday sales this year will be relatively mild, the three major US retailers have started activities in advance. Target's "Deal Days" was held before "Amazon's Prime Early Access Sale". In addition, Walmart, the largest retail company in the United States, also launched an early holiday sale on October 1 to clear out the backlog of goods and stimulate consumers to shop.

According to Deloitte's annual holiday forecast, U.S. retail sales will grow 4% to 6% year-on-year during the 2022 holiday season, a significant slowdown from the 15.1% growth in 2021.

Editor ✎ Nicole/

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