Companies and Brands
Target Core Brand Re-Launch, All About Lower Prices (TGT, WMT)
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Target Corporation (NYSE: TGT) was hurt as the recession took hold and customers had to go searching for cheaper and cheaper products. Wal-Mart Stores (NYSE: WMT) was the winner there. Now Target is aiming to fight back with cheaper products of its own brand, the “up & up” brand.
This brand is more than 800 products across more than 40 categories in “household, healthcare, beauty, baby, and personal care.” It also noted that nearly 100 of the new products are new for 2009 and said there was a reformulation or enhancement of more than 130 products in the line.
While Target has stayed a bit more on “quality over quantity” compared to its Arkansas-based rival, don’t be fooled. This is all about price. There are only four real paragraphs in the entire press release, yet Target mentions lower prices or savings on five different occasions throughout the release.
Despite the notion that quality is still there, you have to wonder if Target considered ending with “always low prices.”
Jon C. Ogg
June 25, 2009
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