Target supports Walmart to end shopping store

Target is engaging Walmart in closing its stores on Thanksgiving Day, an age-old tradition of door-buster sales of jump-starting Black Friday.

The move comes as the announcement announced on Monday that stores are relaunching this year’s Black Friday shopping bonanza weekend – along with other major retail days in the holiday season – as the country COVID-19 pandemic Fights

Stores always relied on large holiday crowds and worked with manufacturers a year in advance to acquire special items. Now, the virus has turned the holiday shopping model upside down.

The stores have decimated orders, and the crowds are orphaned. Analysts said that with fears of a wave of virus cases in decline, the biggest nightmare would be what retailers had to do during the most critical time of the year.

“Historically, bargain hunting and holiday shopping can mean crowdfunding events and this is not a year for crowds,” Minneapolis-based Target said in a corporate blog post. It said its holiday deals would be bigger than ever – starting in October.

The country’s largest retailer, Walmart, announced its move last week. Dick’s Sporting Goods also said on Monday that it would close stores on Thanksgiving Day.

Target opened for the first time on Thanksgiving in 2011, creating a new tradition of shoppers heading into the shops after Black Friday began selling and following their turkey feast. Many retailers did this because they were trying to compete better with Amazon and other online players.

But sales ended on Black Friday, and many critics looted shops for not honoring the holiday and not allowing their workers to spend with the family.

In response to the backlash and poor sales, Bloomington, Min. Some stores and malls, including the US-based mall, have reversed completely and have not opened on Thanksgiving in recent years. Costco and Nordstrom, among others, always remained closed on Thanksgiving, noting that they wanted to honor the holiday.

The big question is still how to handle Black Friday itself, which draws huge crowds – and sales. Despite competition from Thanksgiving shopping, Black Friday ranks as the year’s top or No. 2 sales day.

According to Adobe Analytics, online shopping after Cyber ​​10 and Black Friday, respectively, has not been thanked since the last 5 days as sales start around 5 pm, but stood third in online shopping on the previous day.

Walmart and Target declined to comment on their plans for Black Friday, but analysts say they believe retailers will do more of their business online and focus on limiting the number of shoppers in stores Will focus Like Target, other retailers will also start holiday sales to disperse the crowd.

Messi chief executive Jeff Gennett said this month that the department store would be moving its Black Friday business toward online at a greater pace and would be “going full force” with Holiday Marketing right after Halloween. It will also be surprising events to reduce customer traffic to the store.

Nevertheless, moving sales online will probably be more expensive for retailers due to shipping expenses. And while many stores such as Messi will have a curbside pickup ramp for the first time this holiday season, this strategy will create logistical challenges to meet shoppers’ holiday demands.

Sucharita Kodali, an e-commerce analyst at Forrester Research Inc., said that profit margins on retail sales range from 50% to 80% on their online sales to retailers when they buy the same item in-store.

Joel Rampold, managing director at AlixPartners’ retail practice, said, “It’s going to be a very difficult holiday season for sales.”

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