Dive Brief:
- Ahead of the busiest shopping season of the year, Target is bringing back its three-day sales event, dubbed Target Deal Days, from Oct. 10 to Oct. 12.
- At the same time, the company will also unveil its new Holiday Price Match Guarantee, which runs between Oct. 10 to Dec. 24, according to an announcement Wednesday. It allows shoppers to request a price adjustment on all qualifying items purchased if they go on sale before Dec. 24.
- The Target Deal Days event is available at all locations for the first time, per the release. Consumers can also find deals across all categories at Target.com and on the Target app.
Dive Insight:
As inventory constraints, labor shortages and supply chain issues threaten to complicate the upcoming season for retailers, holding a sales event ahead may encourage consumers to shop earlier.
With the price matching incentive, shoppers no longer have to wait until Black Friday to get the best deals. Target said it will also match select competitors' prices within 14 days of purchase. Proof of purchase is required to claim the price adjustments.
"This gives guests confidence that they can get the best price on all items at Target whenever they shop," Christina Hennington, executive vice president and chief growth officer, said in a video announcement.
Holding the shopping event earlier might also lessen the Black Friday crowd, especially as holiday sales are expected to spike up to 9% this year, according to Deloitte's latest estimates. Total sales could reach up to $1.3 trillion.
In preparation for holiday demand, Target recently announced plans to hire 100,000 seasonal associates, amid a competitive labor market that threatens to continue through the holidays. Target trimmed down its seasonal positions by 30,000 this year, but said it is offering existing workers an extra 5 million hours or an equivalent of over $75 million in wages.
In the past, Target has scheduled its Deal Days to rival Amazon's Prime Day event. The company held its Deal Days event a day earlier than Prime Day in June. And last year, when Amazon delayed its big sale due to the pandemic, Target also held sales on the same days.
