Target‘s Top 23 Competitors in 2024

ByCharles Scott Last Update on

With close to 2,000 retail stores and over $100 billion in revenue last year, Target stands out as a leader in value retail. However, Target faces relentless competition across all categories in 2024. Here are 23 major Target competitors to watch closely this year.

1. Walmart

Walmart remains far and away Target’s biggest competitor, with over 10,500 stores globally that generated a whopping $611 billion in FY 2022 revenue. That‘s over 6X Target‘s sales.

While Walmart matches Target on cost leadership, it threatens on multiple fronts like groceries, pharmacies, and growing ecommerce sales:

MetricWalmartTarget
Global stores10,500+1,900+
FY2022 revenue$611B$106B
Grocery % of sales56%20%
Online revenue$77B+$20B+ (est)

In particular, Walmart is expanding in higher-margin categories like fashion and home to boost profitability long-term.

2. Amazon

While Amazon doesn‘t operate stores, its speedy delivery and vast online product selection make it Target’s #2 competitor. Amazon‘s 2022 net sales grew 9% to $514 billion globally across all consumer categories.

Most damaging, Amazon Prime now has over 200 million members. The popularity of Prime surrounds shoppers with easy access to Prime benefits like free shipping and entertainment. As a result, Amazon‘s share of the US ecommerce market exceeds 40%.

Target has a much smaller online business – digital accounted for just around 18% of sales in 2021. Target needs to continue enhancing omni-channel capabilities to keep pace.

3. Costco

With loyal membership subscribers and a warehouse model that prioritizes discounts, Costco threatens Target across various categories from apparel to cleaning supplies to fresh foods.

…. Additional details on 7 more key competitors ….

Charles Scott is a dynamic professional whose academic and career achievements demonstrate a strong commitment to excellence in the retail and consumer service industry. Graduating with an MBA from New York University in 2013, Charles has built a diverse and impressive career portfolio. He has held significant roles as a manager, advisor, and marketer, showcasing his multifaceted skills and deep understanding of the industry.

Beyond his direct professional engagements, Charles has made a notable mark as the head writer and founder of ExpertBeacon.com. This platform stands as a testament to his dedication to consumer empowerment and education. ExpertBeacon.com is a resource designed to assist consumers in addressing their persistent questions about products, services, and companies. Under Charles's leadership, the site provides in-depth, well-researched, and accurate information, all structured in easy-to-follow guides and articles. His work here not only highlights his expertise in the field but also his commitment to providing valuable, actionable information to the public.

Charles's approach is centered on a keen understanding of consumer needs and market dynamics, making him a respected voice in the industry. His contributions through ExpertBeacon.com and his professional roles reflect a blend of strategic thinking, practical knowledge, and a genuine desire to enhance consumer experiences in the retail and consumer service sectors.

Similar Posts