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- This year marks the first Christmas since Toys R Us sold off its business.
- Target sets out its intention to take advantage of the market share.
Target TGT announced Tuesday its intention to roll out a new gaming experience in stores and online just in time for the holiday season and before the first Christmas since the liquidation of its business by Toys R Us.
The retailer announced that it would bring a handful of major changes in the category of toys, including devoting more aisles to selling toys and organizing play days in the stores. Like many retailers, including Amazon AMZN and Walmart, WMT Target hopes to take advantage of the toy market that is now up for grabs.
First, Target announced plans to add a one million square meter space dedicated to toys in more than 500 stores by Nov. 2. The company said this space would be "absolutely permanent" and last beyond the gift season.
Target will bring a more complete overhaul to 100 stores, which will allow them to present larger items, including electric vehicles, theaters and outdoor games, the company said. In these aisles, the company will also have more than 2,500 "new and exclusive" toys on sale, nearly double what it proposed in 2017.
Next, Target will host more than 25,000 "hours of joy" events in stores later this year, allowing kids to test the latest toys and meet fictional characters. The goal of traditional businesses is to make shopping more convenient, to give people a reason to come indoors rather than shop online. Similarly, Walmart plans to hold events in children's stores.
Online, Target promises customers to search for "the perfect toys for every child on their list".
Target has announced the release of 22 million gift catalogs in homes and stores, with 15% more toy pages compared to last year. Customers will be able to scan catalog items with the help of Target's mobile app, where they will be able to find more product information and easily add the item to their cart, a indicated the company.
"For many guests, finding the perfect toy to pack and offer to their little loved ones this holiday will be their top priority.We want them to know that Target is here to help you," said Mark Tritton, Vice President. Executive of Target. head of sales.
When Toys R Us has definitely closed its doors over the summer, this has created a window of opportunity in the toy industry, and several retail giants have already capitalized on it. collapse.
According to Tritton, toy sales have increased for 17 consecutive quarters.
In late August, Walmart announced a 30% increase in its supply of toys in stores during the holiday season. The big box retailer has also announced plans to hold more than 2,000 "retail entertainment" events in its stores this year – up from less than 500 last year – to promote new toys.
Amazon, another major competitor in the sector, announced its first toy list in August and is expected to distribute toy catalogs at Whole Foods grocery stores at the end of this year for promotion.
Meanwhile, Party City is opening 50 "Toy City" stores next to ephemeral Halloween stores. The company has also announced plans to permanently add more toys to its Party City sites. And KSS, Five Below FIVE and J.C. Penney JCP from Kohl also announced plans to sell more toys this year.
This holiday season will be important for Target. The company is returning to its "chic chic" roots, but now must prove that it can maintain that momentum. He recently added a series of new delivery options that will be tested later this year during peak periods.
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