Is that bull’s-eye logo going bye-bye to survive the Wal-Mart effect? What does Wal-Mart know that may save business everywhere?
Is it true- is Target steering away from their famous Bullseye logo? Since March of 2009, they have been pulling it to implement an ARROW; that is being targeted right to “Real MOMs” and how they are saving real money at Target.
The MOM demographic just happens to be the largest growing consumer base, next to the Hispanic market, which both carry allot of weight behind their dollar buyer power.
Target has been under pressure from its largest majority stock holders to be more competitive with its rival Wal-Mart for some time now. With Wal-Mart’s branding shifting to target the female buyers; Target is feeling the pressure to jump on the band wagon. Target wants their shoppers to know that they are just as affordable as the next discounter….and if they are looking for deals, no need to look past Target. Kathee Tesija, executive vice president of merchandising, says Target is relaunching its Target branded products under the name “Up & Up.”
The Target brand of private label goods are the fastest growing in store brand with a 25% growth in the last five years. Is Target trying to be like Wal-Mart? Can they afford to? Target is even offering to do price matching…like you know who.
Target and Wal-Mart are both interested in being number one, in maybe the same market. That may not work for Target when things get better in the economy; they may have a tough time distinguishing themselves out of it. Morphing to survive is a tricky, tough proposition.
If Target and Wal-Mart have had to change up their philosophy to tap into another market to make it, should your business consider another path through rough times? Can you reevaluate your business and semi-morph to survive? It should make you feel good, as a small business owner, that the big guys have to change to make it also.
If things are tough for your business right now, reevaluate your offering, Pay attenmtion the growing segment of the population, and see how you can service them.
Mom’s are HOT right now, and will be staying around for a long, long time……
Always Dream BIG!
Kim
