Target’s investments in store remodels, same-day delivery and drive-up services are paying off. The retailer, which used to rank No. 11 in U.S. e-commerce sales, is now forecast to jump three spots to break into the top 10 list as the No. 8 retailer, according to a new report from analyst firm eMarketer. This puts Target ahead of declining businesses QVC and Qurate Retail Group (HSN’s owner), as well as No. 9 Costco and No. 10 Macy’s, the new forecast says.
The firm estimates Target’s e-commerce business will grow 24% in 2020 to reach $8.34 billion, allowing it to crack the top 10 list. . . . more