Target Joining Walmart in Closing Stores on Thanksgiving Day
Target is joining Walmart in closing its stores on Thanksgiving day, ending a decade-long tradition of jump-starting Black Friday doorbuster sales.
Target made the announcement today as stores are rethinking this year’s Black Friday shopping weekend along with other key retail days during the holiday season as the country battles the coronavirus pandemic. Stores always depended on big holiday crowds and work as much as a year in advance with manufacturers on securing exclusive items. Now, COVID-19 has turned the holiday shopping model upside down with fears of another wave of virus cases in the fall, which could potentially make retailers close again.
While Walmart and Target will be closed on Thanksgiving Day, the two retailers declined to comment on their plans for Black Friday, but analysts say they believe that the retailers will pivot their business more online and focus on limiting the number of shoppers in stores.