Dive Brief:
- Target is kicking off its Target Circle Deal Days in late June, slightly earlier than its summer sale last July.
- The sale will take place from June 23 through June 26. Members of its paid membership tier, Target Circle 360, can access the sale starting June 22. The retailer is offering up to 45% off on products, including apparel, beauty, home, toys and essentials, the company said in Tuesday press release.
- During the event, the retailer is also revealing one-day-only markdowns on select items from brands like Igloo, Crocs and Sun Bum, as well as its private label brands, per the press release.
Dive Insight:
Summer savings have arrived a bit earlier this year.
Along with Target, Amazon has moved its summer sale up to June instead of July, running its event from June 23 to June 26. The e-commerce behemoth is also releasing daily deals, dubbed “Today’s Big Deal,” with up to 50% off select products.
With its earlier sale, Target wants to attract budget-conscious consumers seeking to save on back-to-school supplies and enjoy the summer, the release noted.
"Busy families are looking for ways to save money as they balance summer plans with back-to-school and college prep, and we're meeting that need without compromising on the style and fun we know they love about Target," Sarah Travis, executive vice president and chief digital and revenue officer, said in a statement.
Besides rolling out a savings event earlier in the summer, the retailer in March introduced Target Circle Deal Days, this time with fewer days than its week-long Target Circle Week event a year prior.
Target’s summer sale comes amid its multiyear turnaround effort. The company reported that its Q1 net sales rose 6.7% year over year to $25.4 billion. Meanwhile, comparable traffic grew 4.4% year over year. Looking ahead, the company now expects full-year net sales to grow roughly 4% compared to last year, a slight increase from its previous guidance of about 2%.
