P. Smith
Research expert covering apparel industry and general merchandise
Target is one of the world’s biggest retailers across many key metrics such as revenue, brand value, and store numbers, despite being based exclusively within the United States. Within the domestic market, Target can be compared to Walmart, Costco, Dollar General, and other retail giants. As a general merchandise store, Target offers products across a wide range of categories, from groceries, to apparel, to consumer electronics. Of the nearly 2,000 Target stores across the U.S., the highest number was to be found in California, where there were more than twice as many as in Texas, the state with the next highest number of stores.
While Target may have a way to go to catch up with Walmart, it nevertheless remains one of the biggest companies in the United States, and will look to make more gains in the market over the coming years.
Target’s sales performance
In 2023, Target’s sales fell by 1.7 percent, which was the first time sales had decreased since 2016. This resulted in Target’s net sales reaching a total of roughly 106 billion U.S. dollars in 2023. This was still a very good year for Target, as sales were higher than any other year except 2022, and over 30 billion dollars more than five years previously. Despite sales falling, nationwide store numbers actually increased that year, by eight. Although most of Target’s sales do come from physical stores, the company’s share of sales from the online segment has been increasing over the years.Walmart with the upper hand
Walmart has the upper hand over Target in the general merchandise market, achieving net sales of over 440 billion dollars in the 2024 financial year in the U.S. alone, not including Sam’s Club sales. This was over four times as much as Target’s net sales in the most recent financial year. Results were much closer in a consumer survey of Americans’ favorite general merchandise stores, although Walmart ranked higher again, by just one percentage point, leaving Target in fourth overall.While Target may have a way to go to catch up with Walmart, it nevertheless remains one of the biggest companies in the United States, and will look to make more gains in the market over the coming years.
