Target goes all-in for Cyber Monday

Target's (NYSE:TGT) omnichannel holiday plans continue to roll out as retailers respond to consumer demand for deals on the first Monday after Thanksgiving.

"Counterintuitive as it seems in today's 24-7, always-connected world, Cyber Monday sales continue to climb," said Jason Goldberger, president of Target.com and mobile. "In 2014, the day's sales climbed as much as 20 percent to nearly $3 billion, by some estimates, and I believe Cyber Monday will continue to grow at a healthy clip for years to come."

Sales on this day are being driven by younger shoppers, according to Goldberger.

"A recent survey shows that 93 percent of millennials plan to shop on Black Friday or Cyber Monday—with nearly half of those planning to shop both days equally," he said. "To me, this is testament to consumers' growing need for simplification. To today's always-connected shoppers, who get served deals constantly via email, social and broadcast channels, events like Black Friday and Cyber Monday stand out even more because they know retailers are giving it their all—and that this one really counts."

In response, Target is planning Cyber Monday and Cyber Week deals to follow up its Black Friday event, which historically produces Target's biggest online sales day of the year.
 
Target will offer a 15 percent discount site-wide. There will be 75 online-only doorbusters and department-wide deals throughout the week in areas like apparel, home and toys.

Growing digital sales is critical for Target, which reported a 20 percent increase in digital sales for its recently completed third quarter, which was below online expectations and a prior growth rate of 30 percent during the prior fiscal year.

For more:
-See this Target blog post

Related stories:
Target digital sales jump 20%
Target co-founder Bruce Dayton dies
Target to open first Manhattan store
Target rolls out Thanksgiving food truck
Target swaps dollar department for Bullseye's Playground

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