Introducing Truth By Numbers: This Week It's Target Vs. Walmart
This week we're introducing a new feature we're calling Truth By Numbers, where we take a retail headline and look at what our e-commerce data has to say on the matter. We know there is a lot of content out there to sift through, so we're making it easy for you to get to the point with quick, bite-sized insights.
Our first headline comes by way of Bloomberg, as Walmart continues to duke it our in the land of e-commerce, against not only Amazon, but Target. In particular, Target has been doubling down on its refresh of private apparel labels, most recently with Universal Thread denim being added, alongside A New Day, JoyLab, and Goodfellows over the last year. So Walmart's readying to hit back with new private label product launches of their own, including Time and Tru, Terra & Sky, and Wonder Nation, all of which are aimed at improving their fashion cred but that also clock in at a low price point.
So we took a look at the data - how many apparel SKUs does Walmart have versus Target? And how do the average price points stack up?
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We were surprised on a few counts - not only does Walmart have a whole lot more apparel SKUs for men and women than Target, the average price point rings in at $10 more than Target. So Walmart's approach is looking more similar to Amazon's, just by the sheer volume of products (the more options, the more potential market share to capture.)
Walmart's apparel revamp also includes revisiting its plus-size ranges - and we saw that on this count, Target has made a more focused effort in this area. We see 24% of Target's assortment being size inclusive versus only 8% at Walmart.
It's sure to be an interesting time as these e-commerce leaders continue to battle it out in the apparel space. So be sure to watch this space for our next Truth By Numbers feature.