Target Discount Bullseye or Miss?By: Toni Matthews-El - December 22, 2013
Retailer Target is definitely looking as red-faced as its logo following a massive security breach affecting potentially tens of millions of customers. The handling of the matter has been less than stellar. The initial message to consumers regarding what happened was both inadequate in explanation and down right condescending in tone. After major backlash over the event and the company’s inability to be reached on the matter, Target is doing what it can in terms of damage control. The company announced a ten percent discount for all shoppers in hopes of getting back into the good graces of shoppers and encouraging customers to return to their stores following the breach.
Many Target customers have expressed a great deal of anger at the security breach happening and frustration at being unable to talk to anyone at the company. Target has tried to communicate via its Facebook page that it is aware of customer concern and anger:
“We’re in this together,” says company CEO Gregg Steinhafel in a video at the company’s website. “In that spirit, we are extending a 10 percent discount, the same amount our team members receive, to guests who shop in US stores on December 21 and 22.”
JP Morgan Chase isn’t taking any chances, limiting daily credit card spending on customers who shopped at Target. This step is meant to keep accounts secure until at-risk customers can be sent new cards. They may have to move fast as ABC News reports that the stolen numbers are being sold on the black market as fake credit cards. Unfortunately with the last days of shopping prior to Christmas upon us, it means that some last minute shoppers will be reaching for gift cards instead of pricier presents.
Whether or not the discount will be a hit or miss is unknown. Perhaps a bigger discount in the wake of events may have encouraged nervous customers to return to the stores. It could be that customers may feel moved to spend money on discounts elsewhere on future Black Fridays–and every day in between.
Image via Target Facebook Page