Years ago, Amazon started Prime Day, which consists of running thousands of discounts available only to Prime shopping members on a day in July. Many people consider it the “Black Friday” of the summer. The shopping day gives Amazon a huge boost. Recently Amazon extended it beyond just one day, and now during the pandemic, the company moved it from mid-summer to mid-October. But the giant e-commerce site is getting some competition.
Cashing in on Amazon’s marketing, Target is kicking off holiday sales in October, hoping to draw some consumers away from Amazon.
Target announced it will hold a “Deal Days” promotional event on October 13 and 14, and will move Black Friday discounts, including one million more deals than last year, to cover the entire month of November.
Christina Hennington, Target’s chief merchandising officer, said:
“By kicking off our holiday deals earlier than ever … we’re letting guests know they don’t need to wait or face the crowds to get the best deals.”
The message across the retail space is clear. Everyone wants to collect as many holiday shopping dollars from consumers as possible. With online shopping surging during the pandemic, this year should be a
bonanza for Amazon as well as Target and Walmart.
Rick Maicki, managing director in the corporate finance practice at Berkeley Research Group, said:
“The 2020 Holidays will be elongated, with retailers looking to meter out a consistent cadence of holiday bargains, as opposed to focus on big tent pole door buster type events.”