New incentives and promotions have been added to Target Corp.’s back-to-school bonuses and promos as parents and teachers feel the impact of inflation.
The company has increased the college student discount for customers who are members of Target Circle to a total of 20% off. From July 17 through September 10, a 15 percent discount on school supplies and other products will be offered to teachers. On tax-free weekends, the company is promoting brands, including its own labels, as a cost-effective solution for obtaining goods.
Also on July 11–13, Amazon Prime Day and Target’s “Deal Days” events will be taking place at the same time.
This back-to-school season, families are feeling the pinch of rising inflation, so any savings are appreciated.
Retailer Inmar Intelligence reported in its 2022 Back-to-School Survey that 75% of customers had noted increasing costs on key commodities and 66% of shoppers would hunt for discounts before making purchases. Inmar Intelligence is a commerce technology and analytics supplier.
According to the report, many customers want to shop sooner because of the inflationary climate. As a result of inflation and rising petrol costs, some customers may choose to shop at certain stores. “[R]ising gas prices incentivize shoppers to accomplish more with each visit which could benefit indoor malls and department stores alongside superstores like Target and Walmart,” said Ethan Chernofsky, vice president of marketing at Placer.ai, a data analytics company that measures foot traffic.” “The continued impact of inflation could also drive specific audiences towards value-buying, positioning off-price retail, and value-oriented retailers like Big Lots, Dollar General, and others.” After battling an inventory surplus, Target said in June that it will implement markdowns.