The demographics may not surprise you all that much.
Ever hear the joke about walking into Target looking for a loaf of bread and coming out with a $200 credit card bill 30 minutes later? Oh wait, that's not a joke. That's a lot of people's reality when they shop at Target (darn you, cute stationery, throw pillows, and delicious assortment of trail mix).
But kidding aside, a lot of people routinely bust their budgets at Target. And if you're wondering how on earth they manage to spend so much money there, a new report could give you your answer.
What the average Target customer looks like
Target is the seventh-largest retailer in the world, reports Business Insider. And the chain operates roughly 1,900 stores across the country. Chances are, you have a Target location in reasonable proximity to where you live, unless you're in a very rural area where just about everything is far away.
Meanwhile, data from analytics firm Numerator prepared some research on Target customers for Business Insider, and the results -- well, they aren't actually so surprising. The data shows that the typical Target shopper is a suburban mother between 35 and 44 years of age. The typical Target customer also has some college education and a household income of $80,000.
The latter helps explain all of those $200 Target runs. For lower-income households, those splurges may not be possible. But an $80,000 income offers up a lot more flexibility.
Here's some more interesting data. The typical Target shopper visits the store 23 times a year. And the average shopping trip includes seven products for a total of about $50 per trip.
Actually, that latter data point is pretty surprising. A lot of people go to Target for groceries as well as household essentials and things like clothing. So it's a little strange to see a mere $50 tab per trip on average.
How to save money at Target
No matter your age, geographic location, or household income, your goal may be to start spending less money at Target. And a good way to do so is to take Target impulse buys off the table. You may want to make a shopping list each time you venture out to Target, bring only enough cash to cover your purchases, and leave your credit and debit cards at home.
Another option? Sign up for the Target RedCard. It gives you 5% off of purchases both in Target stores as well as online. The Target RedCard is available as either a credit card or a debit card, and you get the 5% discount either way.
You may not be all that surprised at what the typical Target shopper looks like (after all, you've probably seen that frazzled suburban mom trying to reign in her kids at your local store). But no matter what demographic categories you fall into, it's important to not go overboard on spending in the course of frequenting Target. Doing so could bust your budget in a very unfavorable way.
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Absolutely, let's dive into the concepts within the article to give a comprehensive view.
The piece covers several key themes:
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Demographics of Target Shoppers: It emphasizes that the typical Target shopper is a suburban mother aged between 35 and 44, with some college education and an average household income of $80,000. This demographic information helps to explain spending behaviors at Target, particularly the tendency for higher-income households to make larger purchases.
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Shopping Habits: The article discusses the frequency of visits (23 times a year) and the average expenditure per trip ($50). It's interesting to note that despite offering groceries and various household essentials, the average spend per trip might seem lower than expected.
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Strategies to Save Money: It provides advice on curbing impulse buys by creating shopping lists, bringing limited cash, and utilizing the Target RedCard for a 5% discount on purchases.
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Financial Impact of Shopping Habits: There's a warning about the potential negative impact on budgets due to excessive spending at Target, regardless of one's demographic profile.
Expertise in this area involves understanding consumer behavior, retail patterns, and financial implications associated with shopping habits. It requires knowledge about retail strategies, targeted marketing, consumer psychology, and financial planning.
For instance, understanding how Target strategically positions products to encourage impulse purchases, analyzing the effectiveness of loyalty programs (like the Target RedCard), and comprehending the psychological triggers behind consumer spending habits all contribute to expertise in this field.
Additionally, familiarity with market research methodologies, consumer demographics, and economic factors influencing spending behaviors can further validate expertise in discussing the insights outlined in the article.
Analyzing data, understanding consumer demographics, and recognizing the impact of shopping habits on personal finances all come together in this discussion about Target shoppers and spending behaviors.
