UPDATE 12-09-2012: A visit to a Fairfax, Va., Target yesterday shows Weinswig may be correct about Target’s poor in-store execution. I went into the store with the Target-Neiman collection in mind but not as part of my primary objective. (“Get kitty litter!) Even so, I saw only a single stand-alone piece of in-store signage related to the collection. My visit was lengthy and covered much of the store’s perimeter, but I never encountered the collection. Even worse: I didn’t see any signage that would have directed me to the collection.
BEGIN ORIGINAL POST: The Wall Street Journal reports the Target-Neiman Marcus holiday tie-in (#Holiday24) is a disappointment, citing slower sales despite high-powered prime-time advertising and the muscle of social media. (Indeed, this writer learned about the partnership via Foursquare and Twitter before seeing any of the ads on television.) The article then goes on to compare the 50-gift cross-collection with the Missoni Madness of 2011.
But are the analysts comparing apples and oranges?
Reps for both retailers say so, noting their partnership was to created for the duration of the holiday season — not just a one-day sale. And to avoid the resells on eBay and other auction sites — a problem with last year’s Missoni promotion — customers are limited to five of each item.
A report by Deborah Weinswig, the Citibank analyst cited in the WSJ report, was quoted in the Dallas Morning News, laying blame on the disappointing sales on poor in-store execution. Weinswig surmised that based on Twitter chatter, all of the first day’s action was online, and the brick-and-mortars’ inventory could certainly be sold online. Reps for Target told the WSJ the placement of the collection in the back of the store was on purpose, designed with the hopes to increase traffic in other areas of the stores.
— Target Style (@TargetStyle) December 4, 2012
Whether the collection is red-hot online or in-store, the fact is: It’s cute, it’s affordable, and the partners can celebrate the brand awareness the promotion has created for their brands and the designers.
Check out how Target and Neiman promote the collection on their respective websites. No matter the framework, the collection still works, transcending the retailers’ consumer bases.
(Screencaps by J. Barrineau. Sources: Foursquare, Target.com and NeimanMarcus.com. 2012)