Target tops retail competitors on Black Friday as in-store shopping surges

Taylor Swift’s siren song helped lured shoppers to Target in droves, handing the only retailer with the exclusive Eras Tour book a Black Friday crown.

While Walmart’s Black Friday traffic declined 3%, Target’s store traffic surged nearly 17% compared with last year, according to Placer.ai. The Minneapolis-based retailer likewise outperformed all other big-box and department stores.

Only HomeGoods and Apple Stores had better year-over-year traffic gains than Target, per Placer’s digital device tracking and estimates.

Target did not immediately respond to a request for comment Monday. Last month Chief Commercial Officer Rick Gomez said “the power of newness and affordability” would draw shoppers, and he pointed to exclusive “Wicked” items joining the Taylor Swift in-store-only releases.

“This and so much more ... adds up to Target at our very best,” he said.

Malls of all kinds — indoor, open-air and outlet — also had a strong Black Friday, with traffic up at least 5%.

“The role of malls continues to evolve, with many seeing stronger year-over-year visitation trends than their individual tenants,” R.J. Hottovy, head of analytical research at Placer.ai, said in a news release. “Successful strategies to position malls as destinations through entertainment, decor, and unique experiences have resonated with consumers, highlighting the importance of offering more than just shopping.”

(A viral online rumor suggested Target is adding bars to some stores to add a similar “experience,” but no such initiative has been announced.)

Best Buy’s in-store traffic on Black Friday suffered a 20% decline from last year and a 43% drop from 2019.

The Richfield-based retailer spread out its doorbuster deals across November, which helped sales grow 5% to start the month. Still, Best Buy expects same-store sales for the holiday quarter to come in level with last year, at best.

“We can definitely see customers responding to those holiday sales,” CEO Corie Barry said last week.

The electronics retailer could yet benefit from Cyber Monday online shopping. Adobe Analytics predicts Cyber Monday sales of $13.2 billion, an increase of 6.1%, which would make it the single largest shopping day of the year.

Among the record 200 million shoppers over the five-day Thanksgiving weekend, most shopped online, according to the National Retail Federation.

“Online shopping provides a better solution in many situations, especially for those who know exactly what they want,” Placer.ai Vice President Ethan Chernofsky said in a statement. “The role of the store is to provide a place for product discovery, the chance to touch and feel products, engage with the brand, or identify the ideal size or version of a product. This doesn’t reduce the value of the visit, but it means that while the visit is still critical, the actual transaction might still be made online.”