From cashmere to faux fur, Target's holiday push centers on affordable luxury

By Reuters News

Oct 21 (Reuters) - Target TGT.N on Wednesday announced a holiday strategy centered on affordability as consumers strain under rising cost of living, featuring what it called “luxe for less” items like cashmere sweaters priced as low as $45 and faux fur throws for $30.

Researchers at NielsenIQ earlier this year found that consumers still have a taste for luxurious items, but are being choosier as prices rise.

Here are some details:

  • The company said in a press release it will introduce 8,000 new items for the holidays, more than half of them exclusive to Target

  • Toys are a "must-win" category as the retailer is set to add 3,000 new items across its "fun101" assortment of toys, tech, gadgets and fandom merchandise, Chief Merchandising Officer Cara Sylvester said at an event in New York on Tuesday

  • Under Michael Fiddelke, who took over as CEO in February, Target is trying to recapture the combination of style and affordability that had earned it the “Tar-zhay” moniker

  • Target will become the latest in a string of major retailers to incorporate AI into customers’ shopping tools, launching “Ask Target,” an AI chat feature aimed at helping consumers find the right items

  • Early Black Friday deals will run November 5 to 7

  • Target said it will feature a “deal of the day” each day from November 1 through December 24

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.