Retail activity falls; Target a focus


The number of transactions at Target (TGT) stores slid 3-4% at the weekend compared with the same pre-Christmas period last year, retail consultancy Customer Growth Partners estimates.

The fall comes after Target disclosed that hackers accessed the information on up to 40M payment cards between Nov. 27 and Dec. 15 by infiltrating swipe machines at checkout counters.

The drop may be part of an overall trend: RetailNext estimates that sales fell by a mid-single-digit percentage at brick-and-mortar stores on Friday and Saturday, although that doesn't include online sales. Store visits tumbled 7%. In response, retailers have been offering heavy discounts in order to lure shoppers.

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Comments (4)
  • tomlos
    , contributor
    Comments (1299) | Send Message
     
    At our recent target over the weekend I saw several people signing up for RedCards, so don't think there is a huge disruption going on. To be honest, the public is generally so unaware of what is going on around them, it's amazing.
    23 Dec 2013, 08:59 AM Reply Like
  • ROLLINGMEADOW
    , contributor
    Comments (87) | Send Message
     
    Gee do you think the weather on Friday and Saturday could have had anything to do with the lower transactions?
    23 Dec 2013, 11:09 AM Reply Like
  • Michael Hooper
    , contributor
    Comments (621) | Send Message
     
    Cold winter apparal is selling like crazy. Last year, winter apparel sales were terrible due to mild winter. Hats, gloves, coats and sweaters are selling. I was in Target and TJ Max over weekend, both were very busy. I used check, not credit card, to buy stuff at Target, which gave 10% discount. I think a lot of consumers are buying online, however, the only way I am going to have everything for Christmas now is to go to bricks and mortar stores.
    23 Dec 2013, 11:24 AM Reply Like
  • Portage, MI
    , contributor
    Comments (200) | Send Message
     
    I do agree with the comments above by tomios and ROLLINGMEADOW, however let us not forget that it is nearing "months end" and by this time most government entitlements ($ money for nothing) has already been used up. How much of a factor could that be ?
    23 Dec 2013, 11:28 AM Reply Like
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