Target's digital sales jump 141% as coronavirus keeps shoppers home
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Target's digital sales jumped 141% during the first quarter as Americans upped their online shopping during the coronavirus pandemic, CNBC reports.
Yes, but: Even as digital sales increased, the pandemic still took a bite out of Target's profits, as supply chains shifted, stores increased cleaning protocols and customers moved away from higher-margin purchases in favor of staples like groceries.
- The increase for digital sales was sharp sudden, with a year-over-year jump of 33% in February, 100% in March and 282% in April.
- Same-day services, which include shipping and curbside pickup, jumped 278%.
Go deeper: The changes that will outlast the crisis