Target Sees a Huge Surge in Back-to-School Traffic
Target saw foot traffic rise 27.5% over its baseline the week of August 12, and the two weeks previous were big weeks as well, with traffic rising 21.1% and 15.3%. This represents a big year-over-year improvement, and it bodes well for Target’s third quarter.
While Walmart still dominates in foot traffic (as the back-to-school shopping season made clear), Target’s advantage is that the average Target shopper is more wealthy than the average Walmart shopper. Like Walmart, Target has invested heavily in it stores and omni-channel programs. And like Walmart, Target is reaping the rewards.
If Target does indeed post stellar Q3 performance, it would build on a strong Q1 and Q2 this year, both of which showed the mass merchant making gains across the board. Q2 brought Target’s best two-year comps (10%) performance in more than a decade.