Tuesday, March 25, 2008
Tuesday’s Rant: Rivals Stealing Target’s Thunder
Each Tuesday I take the opportunity to rant about something I happen to not like about Target…but today I’m taking a different tact and ranting instead about Target’s rivals. On the heels of last week’s post about Wal-Mart stealing market share from Target, I found this excellent article from the Chicago Tribune about Target’s recent struggles. The article highlights some topics that I’ve already blogged, such as how the loss of designer Isaac Mizrahi is a huge blow to Target, and how Wal-Mart is jumping on the design-for-the-masses bandwagon by introducing a collection by Norma Kamali.
So now Target’s retail woes are starting to make sense: everyone else is jumping on the cheap & chic bandwagon, which is eroding Target’s sales. But they are imitators (not innovators, like Target) and my money is on the bullseye to bounce back soon.