Target’s Digital Holiday Boost

Target’s digital efforts paid off during the 2014 holiday season as the retailer broke its seasonal digital sales record with a 40 percent increase on Black Friday and Cyber Monday from 2013’s numbers, Chain Store Age reported.’s mobile strategy during the holiday period also produced big numbers for the retailer. Mobile traffic accounted for 60 percent of all traffic on the website during the holiday period, the report said. That number included website traffic from November through December. Black Friday weekend figures alone were twice as high as 2013’s figures. One newer feature for Target last holiday season was its Cartwheel digital coupon app that added 2 million new users during the holidays; that app has hit more than $1 billion in promotional sales since its May 2013 launch, Chain Store Age said.

Target’s new iPhone app also delivered for the retailer as it was used more than 400,000 times during the two-month period. Target’s omnichannel efforts also expanded last holiday season and reportedly hit a new record on Thanksgiving Day, though specific numbers were not available.

Target’s recent successful online sales report may have helped it in the markets, as its shares hit an all time-high of $77.65 in intra-day trading on Jan. 8, according to Seeking Alpha.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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