It’s been a year since Target introduced its revamped loyalty program — and the retailer plans to reward its members with extra savings ahead of the holidays.
In a release today, the big-box giant revealed that nearly 80 million people have subscribed to Target Circle so far. As part of its celebration, it said it would offer nearly 1 million more deals to customers than the prior year.
According to the company, members have saved almost $2 billion through its loyalty program. It shared that shoppers have collectively earned about $200 million by getting 1% rewards on purchases to put toward a future visit to their stores. Nonprofits have also benefited: The Minneapolis-based chain added that it has directed more than $7 million to roughly 2,500 local and national charitable organizations as part of the program.
“It’s been amazing to see how our guests have embraced Target Circle, saving millions of dollars and helping give back to their local communities,” EVP and chief marketing, digital and strategy officer Rick Gomez said in a statement.
As the number of COVID-19 infections continue to rise in the United States as well as in countries around the world and the potential for more government-mandated lockdowns loom large, retailers are feeling the pressure this holiday season to get creative with promotions. Walmart, for example, broke up its Black Friday sales to three events to be “safer and more manageable for both our customers and our associates,” while Nordstrom is offering 12 days of savings and Old Navy is giving cardmembers even more perks during its pre-Black Friday sales.
At Target, customers will see markdowns throughout the month of November: Last week, it offered deals on electronics, appliances and other home items. From Nov. 8 through Nov. 14, shoppers are able to snag discounts on kitchen and floor care products, while on Nov. 15 through Nov. 21, they will see a drop in prices for even more electronics, as well as apparel and cosmetics. From Nov. 22 to Nov. 28, toys will be added to the previous weeks’ deals. (Guests can see more information via the retailer’s digital weekly ad each Thursday prior to the items going on sale each Sunday.)
During the second quarter reported three months ago, Target logged blowout earnings and sales, even as solid operating performance was offset by investments in employees’ pay and benefits amid the coronavirus pandemic. The retailer announced that it had added 10 million new digital customers in the first half of the year and recorded e-commerce growth of 195% in the period ended Aug. 1 as COVID-19-induced stay-at-home orders drove shoppers online.