TARGET’S CIRCLE LOYALTY PROGRAM: WHAT BRANDS NEED TO KNOW
In their 2023 Annual Earnings call, Target made waves with major changes to the Target Circle loyalty program, signaling its significance as a driver and lever for Target in 2024 and beyond.
Let’s delve into the highlights of these changes and what they mean for brands.
EXPANDING TARGET CIRCLE: BIG CHANGES AHEAD
The expansion of the Target Circle Loyalty Program is where the major transformations lie for brands. With more promotions shifting into Target Circle deals, guests can expect an abundance of enticing offers. Moreover, shoppers will experience the convenience of having deals auto-applied at the register simply by scanning their Circle Barcode. Despite the rebranding of REDcard as CircleCard and Shipt Membership as Circle 360, these changes have limited to no impact on Circle for brands.
IMPLICATIONS FOR BRANDS: GET READY TO DIVE IN!
Brands should brace themselves for exciting opportunities ahead. With Target casting a wider net through Circle, the potential to impact and drive results is higher than ever. Expect to see an uptick in marketing efforts, as Target is placing a significant bet on Circle, with increased promotion and visibility.
TURNING THE TIDE WITH CIRCLE INNOVATIONS
Target hopes that these Circle innovations will help turn the tide after posting poor comparable sales numbers for the year. Interestingly, DIGITS clients continued to outpace the Target Average, growing 4 full points faster in 2023. While Target saw a decline of 3.7%, DIGITS clients achieved a total growth of 0.3%.
Interested to Learn More?
Curious about Circle for your brand? Request a Target Circle Market Share report on our website! By accessing a customized report, brands can gain insights into the performance of their Circle offers, identify competitors driving sales aggressively, and strategize more effectively.
Dave Glaza, Founder & CEO of DIGITS, remains committed to bringing digital capabilities to physical stores!
LinkedIn: https://www.linkedin.com/in/davidglaza/
Follow DIGITS on LinkedIn: https://www.linkedin.com/company/digits-agency/
