Target Step Analysis: Target Competitor: Walmart

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Target

Target STEP Analysis

Michael Salvatore

Mingliang Zheng

Justin Breit

Halim Daoud
Harris Gensee
The College of Staten Island
Professor R. Allen

Overview of Target’s Competitor

- Justin Breit
Target’s main competitor in the current market is Walmart. Walmart’s history began in 1962 when a man by the name of Sam Walton opened the first Walmart store in Arkansas. Mr. Walton’s clear & concise business strategy, “The lowest prices. Anytime. Anywhere”, ultimately led to the success of this company. Five years after opening the first store, Walmart went on to open 23 more & the rest is history (Walmart, 2014). Walmart’s stock ticker symbol is WMT and is currently valued at $74.78 a share (Yahoo, 2014). The company’s NAICS code is 45291 (Walmart, 2012). According to Yahoo Finance’s information page, Walmart’s sector is identified as “services” & its industry is labeled as discount/variety store (Yahoo, 2014).
- Mingliang Zheng
Walmart is a worldwide corporation that people are familiar with. The headquarters of Walmart is at Bentonville, Arkansas (Our Story, 2014). Walmart Corporation has 11,000 stores in 27 countries and e-commerce websites in 10 countries (Our Story, 2014). In the year of 2013, Walmart has about 2.2 million employees over the world (Our Story, 2014). It is one of most popular corporation in the world.
In 1918, Sam Walton was born in Kingfisher, Oklahoma. He was the founder of the Walmart; he opened the first Walmart in 1962 in Rogers, Arkansas when he was age of 44 (Sam Walton, 2014). There are five CEO’s in the Walmart Corporation, the first one is Doug McMillon, and he is the President and CEO of Wal-Mart Stores, Inc. (Executive Management, 2014). The second one is Bill...

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...According to an article in NY Times, approximately 53% of people over the age of 65 use the internet (Span, 2013). With that being said, Target just needs to make strides towards more simplistic online shopping tools. As for the hiring of older employees & teaching them how to use the electronic gear within the store, managers at Target must be more patient & maybe have specific staff members that give lessons on the tools.
A recommendation for correcting a con of Target’s economical aspect would be to stay on top of their competitor’s prices. By frequently offering sales & discounts to their customers, Target will stand out from the competition. Another way to increase retail sales & overcome this dilemma would be increasing advertising. By putting more effort & money into marketing during slower sale periods Target could attract more consumers (Waters, 2014).

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