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arget Corporation is one of the largest retailers in the United States, offering a variety of general merchandise, food products, electronic equipment, beauty products, and
arget Corporation is one of the largest retailers in the United States, offering a variety of general merchandise, food products, electronic equipment, beauty products, and more. The SWOT analysis completed in week 2 revealed that Target's grocery selection is overpriced, leading to decreased staple food item and nondiscretionary item sales. In April of 2024, the food at home index fell by 0.2%, as reported by the U.S. Department of Labor consumer price index findings. To stay competitive in a seemingly declining market, Target must put contingencies in place to address consumer perception and maintain their food and beverage sales. Food and beverage sales currently comprise roughly 20% of Target's sales share. Additionally, 2024 first quarter earnings reports show that overall customer traffic fell 1.9%, and the average amount that customers spent on those visits also fell by 1.9% (Repko, 2024). Target reported Q1 2024 earnings of $24.52 billion, missing the $24.53 billion expectation (Repko, 2024)
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