19 hours ago | By Isabelle Coates
Aug 29, 2017
Last week, Target announced higher than expected revenue earnings, coupled with an increase in in-store sales, foot traffic, and digital sales (32%).
Target’s announcement parallels the latest data from WGSN Barometer, which has indicated increasing signs of the brand’s strengths in the past few months. In the consumer survey, Target ranked highest in brand affinity amongst the top womenswear brands in the United States: 57% of consumers said they “liked a lot” or “loved” target. Trailing Target was Kohl’s at 55%, with traditional department stores Lord & Taylor, Saks, and Bloomingdales each lagging at 28%. Target also led in consideration for the second month in a row, improving their score to 73% in July.
Sidney Morgan-Petro, Retail Editor for WGSN: “Combined with Target aggressively adding private label brands like JoyLab and Project 62, and its newly revamped marketing efforts, these findings suggest the brand is moving in the right direction.”
Meanwhile, data from WGSN Barometer shows J.Crew is very much still in a time of transition. From June to July, of those surveyed less consumers had visited and purchased at the store at -1.6% and -1.1% respectively. Of those who had visited in the survey, overall satisfaction was down -12%. However, there are signs of improvement, with both awareness and consideration up from the month prior.
Sidney Morgan-Petro, Retail Editor for WGSN: “As new CEO James Brett looks to re-invent J.Crew, he may want to take cues from Target’s success. While operating in very different markets, J.Crew needs to be mindful of their value perception and pricing architecture. Target has done well in balancing forward design and value. In a shifting marketplace that is adopting a ‘few, better things’ mantra, the consumer needs to feel comfortable that their spending aligns with the quality of the product – and this is something that J.Crew has struggled with in the past.
“With J.Crew reporting earnings for Q2 that were lower than expected yesterday, one thing is certain – they will need to act fast.”
WGSN’s Barometer is a service that offers up daily intelligence on how consumers perceive your brand, tracking the public perception of retailers. It interviews 350 consumers every day, yielding over 120,000 interviews a year, composed of over 100 questions such as:
– Affinity: How would you describe your opinion of the following retailers?
– In-store conversion: Which of the following retailers have you visited in-store in the last month? From which of the following retailers have you bought from in-store in the last month?
– Online conversion: Which of the following retailers have you visited online in the last month? From which of the following retailers have you bought from in-store in the last month?
For more information, visit wgsn.com
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