Since Target’s rocky start in Canada due to limited stock and higher prices, the company has underwent changes including a price drop that’s 3.9 per cent lower than Walmart, according to a study by Kantar Retail.
“While both our own studies and external surveys show that we are already priced very competitively, the team has made decisive changes to ensure we respond even more quickly to pricing dynamics in the Canadian marketplace,” Target’s chief merchandising and supply chain officer Kathee Tesija told Retailer Insider. “Including comparison shopping our prices versus competitors on more items more frequently, implementing enhanced tracking of competitor promotions to ensure we react quickly, and implementing a price match policy, which includes online and local competition with a more flexible process for guests.”
Robin Sherk, director of retail insights at Kantar, told the Financial Post that Target faces an uphill battle in Canada, although according to the company, second quarter sales have picked up from the first quarter. CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
