Target and Best Buy Struggle to Retain Market Share During Holiday Season

📆 15.11.2023 05:00:00
📰 chicagotribune

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Target,Best Buy,Market Share

Target and Best Buy find themselves in an unusual spot this holiday season: fighting to retain market share during a season they usually dominate. The last months of the year are especially critical to Target, which has lost customers to Walmart and other stores this year. Both of the Minnesota-based national retailers already tamped down any expectations that they will have a blockbuster holiday season — a period that produces an outsize percentage of their profits. The resilience of their modern retail business model, which helped them surge during the pandemic, will be tested this year.

Target and Best Buy are facing challenges in retaining market share during the holiday season, which is typically their strongest period. Target has lost customers to Walmart and other stores this year, making the holiday season crucial for them.

Both retailers have lowered their expectations for a successful holiday season. The resilience of their modern retail business model, which helped them thrive during the pandemic, will be tested this year.

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