Executive Editor
Target invested an additional $1 billion in its workforce in 2020, including five recognition bonuses for front-line team members.
It's clear that Target's "multi-channel shopper strategy" is working after the retailer reported a blockbuster holiday quarter of impressive sales and traffic growth.
For the fourth quarter ended Jan. 30, same store sales increased 20.5%, consisting of 6.9% growth at physical stores and 118% digital growth. Average ticket grew 13.1%. The company said that 12 million more guests became multi-channel shoppers during Q4.
"Over time, multi-channel guests spend on average nearly four times more than a store-only guest and nearly 10 times more than a digital-only guest," Target said.