Hordes of bargain hunters descended on the Target web site and stores across the country in the early morning hours yesterday to get their pick of a 400-item line designed exclusively for Target by high-end fashion luminary Missoni.
This isn’t the first time Target has collaborated with a couture designer to bring more affordable clothing to market—they’ve also rolled out limited sales of lines by Rodarte, Alexander McQueen and Anna Sui. But this was by far the largest and perhaps most hyped sale. The company said Target.com was seeing greater demand than it does on a typical Black Friday. Retail analysts say the nation's second largest discount retailer is capitalizing on the Americans' “frugality fatigue;” many Americans, notorious for our consumer appetite, have had to forgo retail therapy during the recession, and frankly, many are tired of not being able to consume like they used to. By offering a bite size and more affordable taste of what many Americans used to consume, are these sales like the food trucks of retail? And can mining the middle ground during a period where stores like Neiman Marcus have fared better than low-end retailers be a viable strategy for spurring the economy?
Patty Edwards, chief investment officer at Trutina Financial, she has a speciality in retail
Morgan Feeney, Target shopper who was in line at 7am yesterday to buy Missoni