Target is learning the hard way that if you alienate a majority of your customers, they’ll find somewhere else to shop. It’s quite possible that Walmart is their new target.
Since the controversial policy change of allowing men in the women’s restroom was instituted at the retail giant, Target has been hit with huge losses in its stock prices and has published an abysmal quarterly report. Billions have been lost, and it could be due to a customer revolt that called for a boycott that has attracted at least one million people.
Target CEO Brian Cornell doesn’t appear the least bit concerned, further thumbing his nose at his customers by blowing off the boycott. He told Fortune magazine that only a “handful of stores across the country have seen some activity and have been impacted.”
In other words, he’s just not listening.
But a funny thing happened on the way to Walmart… Here’s what the Wall Street Journal had to say:
“Wal-Mart Stores Inc. posted surprise revenue growth in the first quarter and offered an upbeat view for the second, indicating that the company’s efforts to improve stores and make operations more efficient are starting to pay off.
Now, there’s no way to tell for sure if all of those customers banning Target made their way to Walmart, but it’s an interesting correlation, nonetheless.