They say you shouldn’t dwell in the past. Apparently, Brian Cornell didn’t get the memo. In its latest mea culpa on why its business is not so terrific, Cornell once more fantasized about getting Target’s mojo back and returning to the days of yesteryear when it was everybody’s darling. That was the heyday of its fabled “Tarjay” persona, epitomizing cheap chic to the max… or the minimum…or whatever. But listen up: The last thing Target should do is get back to being Tarjay.
Target can’t wiggle out of this and try to become Walmart. That position is already taken — by Walmart — and they do it much better than anybody else. And Target is getting slammed by the fashion fashionistas at H&M, Uniqlo, Primark and Ms. Incandela at Walmart.
The Great Divide
To set the record straight, there was always a disconnect between that marketing image and wonderful TV ads with the actual Target in-store shopping experience. I remember friends in the Eastern Outpost — New York City — who had never been inside a Target store and who visited Tarjay after one of those terrific commercials and being absolutely appalled at what they encountered. The aisles and aisles of paper towels, blenders and cheap t-shirts were nothing like the images in the ads of stylish shoppers doing somersaults over equally stylish clothing and home goods.
Somehow though Target made the illusion work, and they were the darlings of both Main Street and Wall Street…until they weren’t. A pandemic, a slowdown in the economy, inflation and some seriously questionable management decisions led by the aforementioned Mr. Cornell, the CEO, led the retailer into the troubled times in which it still exists. The proclamations that “we’re going to get hip again with new products, new this and new that and happy days will be here again soon” is troubling.
They’ve been saying it for so long, frankly, we wonder how Cornell– who admittedly did some terrific things over his first years running the place – has managed to keep his job in light of this ongoing lackluster performance.
So Long Tarjay
Breaking news: The Tarjay Act is over. Right now, and at least for the foreseeable future, the consumer doesn’t want hip and cool from a discount store. They want a discount. They want an easy shopping experience…with a discount. They want nice merchandise…with a discount. Tarjay scares the crap out of them because they think it’s expensive and not worth it…even if neither is true.
Target can’t wiggle out of this and try to become Walmart. That position is already taken — by Walmart — and they do it much better than anybody else. And Target is getting slammed by the fashion fashionistas at H&M, Uniqlo, Primark and Ms. Incandela at Walmart. That fashion card is being played so well by these brands that can deliver a deep discount.
Food Insecure
And there there’s the grocery front. Aldi is doing the private label thing that Target is trying but doing it better and at better prices. Target is working on being an upscale grocery discounter; that is just such a contradiction in terms that it defies credibility.
And in home, Target is a hot mess. Its private label programs are lackluster and other than the Magnolia Home wannabe sub-brand — which is starting to get stale — it’s just plain boring. And no bargain either.
Happy Trails
Let’s face it, Tarjay had a great run. But it’s over. Brian, let it go baby and move on. Find the next thing to reinvent Target. Don’t get distracted by the protests, the DEI stuff and whatever else is being thrown at you. Your company invented one of the greatest business models in the history of retailing. It’s time to get back to the future.
