It is a well-known fact at this point that the Coronavirus pandemic left the US citizens working from their home and those who were not working were shopping from their homes since the lockdown was imposed and stay-at-home orders were in place.
This meant that the companies which got benefited from the pandemic where the e-commerce companies such as Amazon, Walmart, Best Buy and others.
But Target has now reported that even they saw record sales last month which was April 2020. This was also the time when virus infections in the US had peaked.
Due to this reason, Target reveals that they saw a 141% online sales jump last month since everyone started to pivot to buying online rather than from physical stores in the fear of catching this deadly virus.
Target also revealed that in the last months, more than 5 million people have shopped from their online store which is the largest they have seen in the last 12 months.
The company also revealed that they benefited from keeping their physical stores open similar to others like Walmart and Home Depot who also elected to do the same rather than closing them for the public. Even more interesting is the fact that Target claims it saw even more sales on its website than Black Friday sales.
Target CEO said that “On an average day in April, our operations were filling many more items and orders than last year’s Cyber Monday, a day for which we had planned months ahead of time,”.
“In contrast, this unprecedented surge of the volume was completely unexpected at the beginning of the quarter and it ramped up from normal trends in a matter of weeks.”
Target’s statement also reveals that they saw things beginning to “normalize” and “stabilize,” by the end of April and starting of May.