Analysts from Telsey Advisory Group believe retailer Target is well-positioned to continue to gain market share, supported by ongoing strategies — price investments, private brands, remodels, small-format stores, fulfillment/supply chain enhancements, loyalty programs, and Target-plus marketplace — and retail consolidation. They attribute Target’s impressive performance to the company’s omnichannel strategies, superior execution, and benefits from US government stimulus checks.
According to Craig R Johnson, President,Customer Growth Partners, six big retailers are outperforming peers due to a variety of reasons. Known as the Big Six, these retailers include Target, Walmart, Amazon, Costco, Home Depot and Lowe’s. They share common performance drivers including strong and consistent traffic growth, rising store-level productivity, superior or much-improved online platforms’ and a balance of discretionary and non-discretionary merchandise as well as a strong understanding of their customers’ needs and preferences.
Johnson estimates that these six retailers collective garner about 29 percent of the total US retail market. While Home Depot and Lowe’s don’t sell apparel, the others are actively the market in this segment as smaller specialty apparel chains have faltered.
