Dive Brief:
- As students head back to campus, Target is expanding its assortment of college-focused merchandise, including by offering three times as many new "game day” items as a year ago, according to a company press release.
- On Sunday, Target will launch The Wild Collective, a private label brand consisting of men’s and women’s NCAA-licensed apparel. The brand of clothing will be available at select Target stores and on the retailer’s website.
- The retailer is also offering 50% off its Target Circle 360 membership for verified students through Sept. 13.
Dive Insight:
Target’s back-to-college promotions come amid a broader merchandise revamp from the retailer.
“When it comes to the back-to-college season, Target is triple majoring in design, quality and value,” Jill Sando, executive vice president and chief merchandising officer of apparel and accessories, home and hardlines, said in a statement.
It comes at a time when other retailers are ramping up their own back-to-school offerings. Walmart last month announced that it is offering 14 of the most popular school supplies at lower prices.
“Target remains a destination for many students and their parents, not least because it has a very comprehensive range – but there is far more competition these days, and players like Walmart are drawing in more customers,” Neil Saunders, GlobalData managing director said in an email. “My view is that Target did try and pull out all the stops this year, but it has stumbled in some areas, which puts them at a disadvantage. In terms of grading: it’s A for effort, C for execution.”
With a five-year plan to drive more than $15 billion in growth, Target is investing between $4 billion and $5 billion in stores, supply chain and technology. The retailer has been revamping categories like gaming, sports, toys, home and beauty. This past spring, the retailer added 2,000 products to its baby assortment, which increased the newness of products by 30%.
The broader revamp comes as the mass merchant faces weak sales, as well as leadership changes, including the departure of Chief Strategy and Growth Officer Christina Hennington.
