Target’s now selling dresses for $70 and coats for $120; yes, even Target has become expensive and the timing isn’t great.
Inflation in Australia has bubbled over to 7 per cent, meaning plenty of Aussies are looking for more affordable clothing options.
Financial pressure has increased, but Aussies are still spending on fashion. Finder’s Consumer Sentiment Tracker reveals on average, Australians spend four hours online shopping per week, excluding groceries, splurging roughly $227 per week.
This is down compared to 12 months ago, when Australians were reported to spend on average five hours online shopping per week, forking out a similar $232.
Finder’s shopping expert Chris Jagger said: “The demand for non-essential spending is high despite the cost of living skyrocketing.”
So is that a good thing? Well, it is if you can shop without breaking your budget.
“People need to be conscious about where their money goes more than ever before. It is imperative to focus on essential expenses first,” Mr Jagger advised.
Aussies that still chase the retail high even as mortgages climb higher and higher are looking for bargains. To prevent overspending, a common solution has been to spend at big chain stores that can offer competitive pricing.
Now is not the time to be Julia Roberts in Pretty Woman waltzing down Rodeo Drive. It is time to return to your local mall and do your shopping somewhere you can smell the signature smell of McDonald’s wafting through the air while you browse through racks of clothing.
If you have decided to break-up with boutiques and head back to Target to save cash on women’s fashion there’s a chance you’ll be disappointed.
Hunting for budget-friendly options in the women’s clothing section might be fruitless or expensive mission.
Most dresses are marked at $70, and if you are looking for an affordable coat to keep you warm in winter that will set you back $120 and plenty of blazers are priced between $60-$80.
Target is even selling a version of jeans with an elastic waist for $60, which is pretty steep when you consider that Kmart sells a similar version for $12.
To put Target’s prices into perspective, you could pick up a coat at Sportsgirl for $120-$140, or Cotton On sells coats from $60 to $100.
Target’s slogan, “expect more, pay less,” doesn’t seem to be the motto when it comes to pricing women’s clothing, with most items selling at the same prices a women’s fashion chains that were traditionally pricier.
Meanwhile, if you stepped into Kmart, you could pick up a coat for under $50.
So what on earth is going on?
Well, there’s been a noticeable pivot. Yes, the women’s Target fashion is more expensive but it is also going more viral.
Often its more expensive blazer and dresses will make the rounds on social media for being popular and fashionable.
Retail and marketing expert Lyndall Spooner explained that Target is counting on consumers “breaking up” with “premium brands” because of the rising cost of living and suddenly seeing Target as an option.
“Target knows non-traditional Target shoppers are likely to start trialling their store as the cost of living increases and the discount departmental store brand wants to give them something that appeals and will entice them to spend,” Mrs Spooner told news.com.au.
“Target is adjusting its marketing strategy to diversify its offerings to a budget challenged premium shopper.”
The only issue is that while Target is trying to attract a new type of customer it risks losing its core audience, you know, the kind that might be horrified by a $70 dress.
“The challenge for budget brands that diversify upwards in order to catch a bigger net of shoppers is that they need to ensure they still stay relevant to their traditional core customer,” Mrs Spooner said.
Target is working at being a cheaper option for consumers but it isn’t cheap anymore, so if you are after a bargain you’d be better off sauntering off to Big W or Kmart.
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A Target spokesperson told news.com.au: “At Target, we are committed to offering our customers affordable quality fashion to suit every need and every budget. Within our womenswear range, we offer a wide variety of products starting at just $8 for a cotton T-shirt. The price points of our dresses are between $40 and $80, and the range has been consciously designed to suit a variety of customers’ needs.
“Our renewed focus in the last few years on elevated fabric quality across our apparel allows us to deliver select ranges each season that have a similar proposition to department stores, while also ensuring we provide an extensive, competitive range at lower price points.
“We hope that across our extensive offering, all of our customers can find quality clothing to suit their individual needs.”
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