Target in aggressive marketing effort for exclusive brands
Target Corp. is launching an array of private brands and the discounter is giving them a big kickoff.
The discounter will launch an aggressive marketing campaign for the new labels, AdAge reported, including everything from print and television spots to in-store events and visual merchandising.
"This is our second biggest investment behind holiday," Rick Gomez, chief marketing officer of Target, told AdAge. "We're investing at leadership levels."
In 2016, Target spent $570.7 million on measured media in the U.S., a 9% decline over 2015, according to AdAge's Datacenter.
According to the report, Target's new commercials are clean and simple, and feature a diverse range of ages, sizes and ethnicities.
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One Kings Lane puts down physical roots
Online home furnishings and decor retailer One Kings Lane is making its temporary foray into brick-and-mortar retail more permanent.
The retailer opened its first-ever physical location, a seasonal pop-up in the posh resort town of Southampton, New York, at the beginning of summer. But the company said the response to the temporary store was so positive that it has decided to make it a permanent space.
The 3,500-sq.-ft. store is located in a 19th century building that once housed a library. The space is designed to offer an “immersive lifestyle experience,” the company said, and offers a curated selection of product, including one-of-a-kind vintage pieces.
The store will continue to feature a "living" assortment of product that is regularly refreshed as items sell out, with a major redesign of the floor space slated for the fall. The brand’s signature complimentary design services, available in-home or in-store, will remain a year-round offering
One Kings Lane was acquired by Bed, Bath & Beyond in summer 2016.
Forecast: Holiday sales to be impacted by ‘lackluster’ wage growth
One of the first holiday quarter sales forecasts is out of the gate.
Global retail consulting firm Kantar Retail predicts that U.S. retail sales will grow 3.7% in the fourth quarter of this year. The forecast represents an improvement relative to weak growth of only 2.9% in the year ago period. But it is underwhelming compared to average growth prior to the recession of 5.0%, according to Kantar.
Kantar expects online sales growth of 16% and brick-and-mortar growth of 1.5% in the holiday quarter. Both are an improvement from 14% and 0.5% in the year-ago period.
“Lackluster wage growth will once again hamper holiday sales growth," said Doug Hermanson, principal economist with Kantar Retail. “Shoppers that have benefited from the surging housing and stock markets will be the bright spots for retailers this holiday. The prospects of government spending cuts and lower taxes in 2018 should also be noted given they could further divide the spending plans of holiday shoppers.”