- Target (NYSE:TGT) is trying to stand tall in the face of the upcoming 36-hour onslaught from Amazon with its Prime Day event.
- Research from AlixPartners indicates that around 40% of U.S. shoppers plan to buy from somewhere else besides Amazon on Prime Day in an indication that the annual event is turning into an industry-wide affair.
- Target in particular is poised to snap up Prime Day sales. "Of all the promotions we’ve seen from competitors, we believe Target’s is the most compelling as it appears to provide meaningful value by offering a free 6-month membership for same-day delivery through Shipt when a shoppers spends more than $100 on Target.com," writes Wolfe Research analyst Scott Mushkin. "Outside of Prime Day, our research suggest that TGT has significant drivers of comp throughout the year and we continue to rate TGT Outperform," he adds.
- Shares of Target are down 1.33% on the day, but are still showing a 17.5% YTD gain.
- Previously: Target to hold huge sale on Amazon Prime Day (July 13)