Target wins loyal shoppers with its REDcard discounts

Author:
Updated:
Original:

Target Corp.'s REDcard program is still proving to be a big success for the Minneapolis-based big-box chain.

Minnesota Public Radio reports more shoppers are taking advantage of store-branded credit and debit cards that offer at least 5 percent off all purchases. The program is also helping Target compete with rivals like Walmart.

"In the past, it was we were going to neutralize on price, because we didn't think we could win the price war. And we still don't want to get into price wars," Target CEO Gregg Steinhafel said in a recent speech. "But we now win when you add that 5 percent REDcard reward program."

The retailer won't say how many consumers have REDcards in their wallets, but the cards accounted for 17 percent of the company's U.S. sales its first-quarter -- which is a three-fold increase in just three years -- according to MPR.
Target earned $498 million in that three-month period -- down 29 percent from a profit of $697 million a year earlier. The retailer blames the disappointing results on soggy spring weather that kept shoppers from buying seasonal and weather-related merchandise.

Target is also in the midst of plans to open 124 stores across Canada this year — the company’s first venture outside of the United States.

Click here, to follow Target’s stock performance.

Next Up

police tape

Authorities ID man fatally struck by 'errant bullet' in Willmar

The man was working in his garage when he was fatally shot.

ambulance

1 dead, 1 critically injured in head-on crash on Highway 169

The State Patrol says driving impaired may have been a factor in the crash.

Richard Pitino

Gophers game against Nebraska postponed due to COVID outbreak

The Cornhuskers have had 12 members of its team test positive for COVID-19.

Bob Kroll

What Minneapolis Police Lt. Bob Kroll said in Sunday radio interview

Kroll said that once he's retired he'll go "radio silent."

coronavirus, SARS-CoV-2, covid-19

Here is Minnesota's COVID update for Sunday, January 17

The health department provides updates daily at 11 a.m.

Sen. Julia Coleman

'No one's business': State senator calls out attack on her pregnancy

Sen. Julia Coleman represents Minnesota's District 47.

Willmar Police Department

'Errant bullet' goes through garage wall, kills Willmar man

The man was working in his garage when he was shot, witnesses said.

Screen Shot 2021-01-16 at 10.59.00 PM

Wild tie Kings with 2 seconds left, win in overtime

Another incredible finish for the Wild.

Screen Shot 2021-01-16 at 6.53.17 PM

Mike Lindell's MyPillow offering discounts using the code 'Qanon'

The Shakopee-based company is under the microscope because of the recent actions of its owner.

Surly Brewing

Facing aluminum can shortage, Surly unveils solution: 'Cantyhose'

The brewery came up with a creative way to repurpose unused cans.

Related