The glory days of Target are fading into the retail rearview. The store’s slump isn’t a blip anymore; it’s a pattern. And it’s getting louder right as the holiday season kicks into gear. Sales are still down, profit expectations were cut again, and the retailer is quietly shedding about 1,000 corporate roles. All the while, its stock has dropped more than 35% this year.
People aren’t choosing Target the way they used to — and it’s not because shoppers suddenly became disloyal. It’s because the Target that customers loved hasn’t really existed for a while.
Shoppers Are Frugal. Target, Not So Much.
Inflation has pushed even the most loyal Target fans to rethink where their money goes. Essentials are, well, essential. Prices matter more. Value matters more. And for a growing number of shoppers, Target isn’t delivering any of those as reliably as Walmart, Amazon, or discounters like TJ Maxx.
Target was always the place you went for the vibes — clean stores, cute decor, stylish basics, and a cart full of things you didn’t know you needed. And if there was a Starbucks in the front of the store? Forget about it. But the vibe doesn’t outweigh rising prices. And Redditors are sounding off:
“Why would I pay more for the same mascara I can get at Walmart?”
“Their home decor used to be cheap… now it’s, like, $45 for a toilet paper holder.”
“If the vibe is gone AND the prices are higher, what’s the point?”
The DEI Debacle
This is the part Target probably wishes would go away, but it hasn’t.
Earlier this year, Target stepped back from several DEI efforts, and the response managed to anger pretty much everyone. Customers who supported the initiatives felt betrayed. Customers who boycotted Target because of DEI didn’t exactly return. On Reddit, you see the same theme over and over:
“No one I know shops at Target anymore. We all stopped in January.”
“They made a whole group of people feel unwelcome. Why would they expect loyalty in return?”
Target Keeps Adding ‘Fixes’
The retailer is trying to regain footing by introducing incentives, but the efforts feel mismatched with the actual issues. Target has:
- Dropped prices on 3,000 items.
- Doubled the number of new holiday products.
- Announced a partnership with OpenAI so you can shop via ChatGPT.
- Planned a $5 billion investment in store remodels.
- Started coaching employees to be friendlier and more engaging (“How’s your day going?” as a strategy).
- Longtime CEO Brian Cornell stepped down.
Still, the horizon is murky, and the holiday season will be very telling for the retailer.
More Target content on Cheapism
- 25 Photos of What the First Target Store Looked Like in 1962 — Scroll through these 25 vintage photos to see where the bullseye era began.
- Target Cuts Prices on 3,000 Items in Stores Nationwide — Target said customers will notice lower prices on certain items continuing through the end of the year.
- Target’s $20 Thanksgiving Meal Is Cheaper Than Last Year and Actually Includes the Same Amount of Ingredients — Here’s everything you need to know about this year’s Thanksgiving meal bundle.
