Expect changes at your local Target. According to this USA Today interview with Target CEO Gregg Steinhafel there will be changes in inventory, less holiday merchandise and higher end brands.
According to the interview Target will also be launching a new approach to their online market this fall.
Here's an excerpt:
"Consumers can look forward to more fresh food and new higher-end clothing and houseware designers — including Missoni — offered on a limited-time-only basis. But those who rely on after-Christmas sales for their holiday decorating and sweater needs may be disappointed. He's cutting inventories to reduce the need for post-holiday markdowns.
Steinhafel, 56, started as a "Buyer in Training" at Target in 1979. He was named president in 1999, president and CEO in May 2008, and chairman of the board in January 2009. He continues to hold all three titles"
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This question points to how they will handle holiday sales:
Q: How about the holiday season?
A: Holiday will be promotional. It will be aggressive, just like it always is. But we have some great plans, and we believe that we're going to win the holiday season. We will take a slightly more conservative posture with inventory in categories that peak in the fourth quarter and don't really exist in the first quarter, like fall or holiday apparel, trim, home decorating, trees, cards and Christmas lights. We want to capture as many sales as we can, but we don't want to have a liability at the end of the season and have to mark down. Since 2008, we've seen some seasonal categories decline. We're not expecting a decline, but they may just not grow at the rate some of our other businesses might grow this holiday.
So do you prefer Target to other big box stores or no?