Moving forward, Target stores will stay closed on Thanksgiving Day, Brian Cornell, CEO of Target, revealed in a letter to Target workers.
After visiting several stores and hearing how the team was thankful to have stores closed on Thanksgiving, the decision was made to formally close its doors.
“What started as a temporary measure driven by the pandemic is now our new standard — one that recognizes our ability to deliver on our guests’ holiday wishes both within and well beyond store hours,” said Cornell.
“You don’t have to wonder whether this is the last Thanksgiving you’ll spend with family and friends for a while because Thanksgiving store hours are one thing we won’t ‘get back to’ when the pandemic finally subsides.”
To compensate, Target has already begun holding sales events early, even launching its new Holiday Price Match Guarantee to allow shoppers to request price adjustments if an item they purchased goes on sale.
But while there have been efforts made to make up for potential missed sales, the decision to close its doors doesn’t come without risk. According to Bloomberg Second Measure, when big-box retailers such as Walmart, Target and Best Buy closed on Thanksgiving, their sales decreased.
The news follows several other retailers who have decided to close their doors on Thanksgiving Day, such as Walmart, Best Buy, Simon Malls and REI.