Whenever we talk about the biggest retail business in the United States and the world at large, we are talking about Target. But you might wonder, who Target’s biggest competitors are. Read on to learn more about the history of Target and a competitor’s analysis to go with it.
Target Competitors
I bet you’re eager to know the target competitors. Well, here are the famous target competitors!
#1. Walmart
Target’s biggest competitor is Walmart, and it has just about everything you could possibly need, and the prices are far lower than at Target. Wal-Mart also sells almost every item, both in-store and online. Like, as groceries, supplies for a pet; products that promote good health and well-being.
As well as furnishings for the home office, clothing, diapers, and everything from bed linens to wall décor! More than 10,500 Walmart stores in 24 countries generated $559 billion in revenue for the year 2020!
#2. The Amazon
You can find a wide variety of things for sale on the famous Amazon, as well as through third-party vendors. Because of this, it’s not surprising that Target’s biggest competitor is Amazon. In addition, Amazon sells a variety of items online, including electronics, popular backpack, home decor, and office supplies. Plus, workplace equipment Games and toys Cookware, clothing, supplies for a pet, shoes, food, computers, and playing games on a console.
Supplies for the home and garden, plus tens of thousands of additional items! There are roughly 175 fulfillment centers throughout the world, and Amazon produced $386.1 billion in revenue in 2020.
#3. Kroger
Kroger and Target compete in a number of areas; everything from electronics to groceries to housewares to pharmacies is available. As of 2020, Kroger expects to generate $70 billion in revenue from its 2,800 locations across the country, all of which offer their clients high-quality goods, generic brands, and locally sourced produce at low prices that they can afford.
#4. Macy’s
The retail giant Macy’s competes with Target in a number of categories, including clothing, shoes and accessories, cosmetics, and more!! Macy’s, on the other hand, carries a wide variety of high-end products and brands, making it more expensive than Target. In addition, Macy’s has 789 stores across the country to better serve its customers.
As an added bonus, Macy’s ships to more than 200 countries around the world, making it Target’s biggest competitor in the global market. In conclusion, Macy’s generated $25.331 billion in revenue in 2020, making it one of the most profitable retail stores full of high-quality products and great service.
#5. The Best Buy
There are over 1,159 Best Buy stores across North America, making it one of the largest electronics retailers in the world. Hence, making it Target’s biggest competitor in electronics. Despite the fact that Best Buy is no longer as popular as it once was, the company generated $47 billion in revenue in 2020 and is still a major player in the retail industry.
#6. Costco
Costco is a major competitor to Target, with 804 warehouses around the world and a projected sale of $163.22 billion in 2020. In addition, Costco is a great place to shop. A membership fee is required to shop at Costco, where huge quantities of items are cheaper than at Target.
As a result, Costco is more of an international Target’s biggest competitor than Sam’s Club, which has fewer locations worldwide and smaller stores.
#7. Sam’s Club
In 2020, Sam’s Club’s earnings from its 600 stores in the United States totaled $163 billion. As a result, it’s a major rival to Target because you can buy large quantities of products at a discount.
While Sam’s Club can be found in countries such as Mexico, its primary focus is in the U.S. To purchase at Sam’s Club’s wholesale club, you need to be a member, but membership at Sam’s Club is less expensive than at Costco.
#8. The Home Depot.
When it comes to residential enhancement, Home Depot competes with Target. With 1,987 locations across the United States, it’s the largest home renovation retailer in the country.
Online and in-store, you’ll find a wide variety of products, including appliances of a large size and appliances of a smaller size. As well as tools for the lawn and garden, grills, lumber, lumber lighting, a set of power tools, decor for your home and a slew of other things!
In addition, Home Depot reported sales of $132.1 billion in 2020, demonstrating that it has become the go-to retailer for all of your home repair and gardening needs.
#9. Lowe’s
As the second-largest home renovation retailer in the U.S., Canada, and Mexico behind Target, Lowe’s boasts more than 2,200 locations nationwide.
And Lowe’s has grown to be a well-known retailer of domestic goods, selling such items as paint, lumber, drywall, tools, appliances, and everything from outdoor furniture to lighting to building supplies!
#10. The Meijer Stores
Meijer is a major competitor of Target due to the similarity of its in-store and online offerings and the lower cost of goods.
Both online and in-store, Meijer also offers the following categories of items: groceries, supplies for a pet, clothing, shoes, disposable baby diapers, and electronics for your home’s design.
A set of power tools, supplies for the garden and lawn, grills, toys, and a wide variety of other products are available! In addition, Meijer’s 259 U.S. stores generated $19.59 billion in revenue in 2020.
#11. Kohl’s
As a major department store, Kohl’s operates in a highly competitive environment with Target in a wide range of areas, from electronics and food to appliances and clothing.
As a result, Kohl’s works straight with Target when it comes to beauty goods because it is among the most well-known retailers for buying vital beauty products for the whole family!
With 1,162 locations in the United States, Kohl’s had revenue of $19.974 billion for the fiscal year ending September 30, 2014.
#12. Whole Foods Market
Because Amazon owns Whole Foods, the corporation is able to provide organic and healthy foods to its customers. Making it one of Target’s biggest competitors.
#13. TJ Maxx
A wide variety of products are available at TJ Maxx, which is owned by TJX, which is Target’s biggest competitor. There’s so much more than just home furnishings and decor to choose from! There are more than 1,250 TJ Maxx locations in the United States.
Furthermore, the prices are reasonable, and the quality of the goods is excellent, no matter what you’re purchasing. TJ Maxx stores can be found in 652 different countries around the world. In countries like Australia, Ireland, Germany, Poland, Europe, the Netherlands, and Austria, it’s referred to as TK Maxx instead. TJ Maxx’s revenue will reach $41.717 billion in 2020, up 7% from the previous year.
#14. HomeGoods, Inc.
TJX Companies also owns HomeGoods, a discount retailer. As a result, it’s a home decor store that competes with Target in the same category. Target may have a run for its money now that TJX has opened a HomeGoods website to contend more straightforwardly in the eCommerce market. Hence, with more than 850 stores in the United States, HomeGoods is a major player in the residential decor and furniture industry.
#15. Carrefour
With 12,225 shops and existing in more than 30 nations, Carrefour is Target’s biggest competitor, and it’s the best convenience store in Europe.
Moreover, Carrefour was established in France and has become a worldwide name with grocery stores, convenience stores, and supermarkets to provide clients with a greater selection of products at cheap pricing.
#16. Tesco
There are hundreds of products for the home at Tesco, making it Target’s biggest competitor in a wide range of categories.
In addition, Tesco carries a wide range of products online and in-store, such as groceries, display cabinets for the home, and a wide range of health and beauty items. DesksCouches everything you need for your pet, and more!
As Tesco is present in 11 countries and has 4,600 locations worldwide, it is expected to generate 53 billion British pounds in revenues in 2020.
For this reason, you’ll have no problem finding a Tesco store in your area, and the quality of their items, as well as their prices, will leave you speechless.
#17. Aldi
With more than 10,000 locations worldwide, Aldi is a direct competitor to Target in the grocery department.
In addition, Aldi’s cheap costs and selection of generic brands make it an excellent choice for those on a tight budget.
It’s also worth noting that Aldi’s revenue in 2020 was $15 billion, making it one of the world’s largest discount supermarket businesses.
TJX Companies owns Marshalls, which has 1,131 locations worldwide, including the United States and Australia.
There is also a flourishing Marshalls eCommerce division where a wide range of products can be found. These include fashion accessories such as shoes and handbags, as well as home decor.
As a result, it competes with Target in a wide range of retail areas. In summary, TJX companies could become as big as Target as a result of more prominent eCommerce marketing.
#18. Instacart
Instacart, a meal delivery service based in San Francisco, was founded in 2012. The company will overtake Target as the most famous online food shopping destination by 2020. Target.com has an 18% market share, while Instacart has a 32% share, making it the third most popular online retailer behind Walmart and Amazon.
Deliveries are sent to over 500 shops, including Walmart, from the company’s 40,000 locations in the United States and Canada. From $2 billion in 2015, the company’s value has risen to $17 billion in 2020. Target’s online supermarket market share is in danger from Instacart.
#19. Nordstrom
Nordstrom carries rising clothing lines, shoes, and accessories. It aims to give customers a more personalized experience by incorporating virtual interactions.
Nordstrom has struggled to compete in recent years because of poor merchandise management. However, Nordstrom still has a large consumer base, unique merchandise, and a top-notch omnichannel experience to its credit.
Read Also: 10 Best Shopify Alternatives In 2023
Analysis of the Target Competitors
The following are the Analysis of Target Competitors according to their strengths, Weakness, and threats.
The Strength: Analysis of Target Competitors
#1. A wide range of products
Although the company provides a wide range of products, it is most well known for its wide selection of high-quality clothing. For the most part, Target’s prices fall somewhere in between Walmart’s cheap costs and Amazon Prime’s convenience.
#2. Recognized as a Reputable Brand
High-quality goods and fashionable attire are the hallmarks of the target brand’s image. Customers that are loyal to the brand and often shop at Target’s aisles regularly buy more than just their usual clothing items as a result of this technique. The Target brand is also consistent throughout all platforms, such as inventory, ads, and the packaging of products sold in Target shops.
#3. Good Partnerships
Target can offer a wide range of consumer items to suit the requirements of its clients by using strategic alliances with businesses like Starbucks. For both parties, this relationship has been a success since they regularly release new items depending on user demand.
Weakness: Analysis of Target Competitors
#1. Costly goods
Target’s prices tend to be higher than those of competitors like Walmart because of the company’s emphasis on high-quality goods. Target’s collection of reasonably priced goods may be out of reach for some customers, despite the fact that the retailer values clients who seek to save money on routine purchases.
#2. Global Presence: Limited
Despite Targe’s continued worldwide expansion, the retailer is only present in 27 countries throughout the world. Many countries, particularly in Asia and Africa, have a lot of room for growth. Opportunities
#3. Online presence growth
In comparison to Amazon, Walmart, and a number of other retailers, Target’s online presence continues to develop, but it is still not as strong as it could be. When it comes to Target’s e-commerce website, there’s a lot of room for improvement, as only 17.9 percent of purchases will be completed online in 2020.
#4. Permission for Expansion
Increased revenue per store and a wider targeted client base are possibilities if international expansion is permitted. Meanwhile, Target’s domestic development will aid the company’s online expansion by providing a wider audience.
Analysis of Target Competitors: The Industry
Because of the growing popularity of online shopping, retailers are finding it more and more difficult to maintain the relevance of their physical stores. As the analysis of target competitors shows, in comparison to Amazon and Walmart, Target’s internet presence is still very small.
As a result, clients may elect to make all of their purchases through a single channel, drastically restricting their range of choices. Consumers trying to save money on routine purchases are a major source of revenue for Target. Target may struggle to hold on to its present client base if the economy becomes shaky.
History of Target
Although Target, one of the largest US retailers, began its history by selling merchandise in 1962, the Target.com website was not opened until 2000. The history of Target continued on May 1st of that year when the first Target store was launched in Roseville, Minnesota. TVs, stereos, and other home equipment were on sale at the store. The second location debuted in Minneapolis three years after the first one did. According to the history of Target, this one offered a wider selection of goods than the first.
It launched a third location in Bloomington in the history of Target, which is located just outside Minneapolis. It was in 1971 that Target’s fourth retail site opened, with a much broader assortment of goods than had previously been available. Cameras and other equipment began to be sold in stores in 1976 in the history of Target. It has been expanding at a rapid rate since the 1980s according to the history of Target. These are the history of Target.
Who Is Target’s Biggest Competitor?
Walmart has a bigger selection of goods than Target, including clothing, furniture, appliances, electronics, home decor, jewelry, games, household goods, pharmaceuticals, and more.
Why Is Walmart Target’s Main Competitor?
Target’s main rival, Walmart, is a retail behemoth that is at least five times bigger. The higher inventory and asset turnover, as well as the operational dollar earned per dollar of asset, show that Walmart appears to be more operationally efficient than Target.
How Is Target Different From Its Competitors?
Offering distinctive and varied items at competitive prices has allowed Target Corporation to develop a competitive edge over its rivals during the past ten years. With a large selection of brands, it has been able to offer high-quality goods at affordable costs.
What Is Target’s Approach To Competing?
giving our visitors affordable options. separating ourselves from the competition with our own brands and a carefully curated selection of top national brands. investing to develop a unique and engaging shopping experience.
Why Is Target a Competitor of Amazon?
Both Target and Amazon sell a variety of goods, including clothing, electronics, home goods, and even groceries. As such, they are competitors. Despite their similarities, the two organizations are fundamentally different and employ completely different business models. Compared to Amazon, Target is a considerably more conventional retailer.
What Distinguishes Target From Walmart?
There isn’t much of a distinction between the marketplaces you choose to list for things that fall under food, household necessities, and home. Walmart is more concerned with health, whereas Target is more concerned with beautiful things.
What Is Target Sustainable Competitive Advantage?
A corporation has a sustainable competitive advantage when it continuously outperforms its rivals in the same industry or discipline. Most frequently, firms with this kind of advantage produce a value for their clients that is superior to that of other organizations.
Conclusion
Target, one of the largest US shops, began selling merchandise in 1962. The Target.com website was not opened until 2000. And even now, it’s still a great company that has almost everything you could possibly want. I believe this guide was helpful enough to answer your questions and add to your knowledge about target competitors.
Target Competitors FAQs
How is Target different from its competitors?
Target has certain distinctive advantages over rivals, which is a dependable consumer base and a powerful brand.
Why Is Target better than its competitors?
The reason target is better than its competitors is in terms of store reputation, thanks in part to its knowledgeable personnel and readiness to assist consumers (customer service).
What is Target competitive strategy?
Target’s competitive strategy is to provide clients with a huge range of high-quality goods at reasonable prices on a daily bases.
