Target posted its highest annual comparable sales growth in history thanks to its astounding 195% annual increase in digital sales.
Business Insider believes the pandemic could lead companies like Target and Walmart to expand their market share long term.
Targets comparable sales soared 24.3% year-over-year (YoY) in the second quarter of 2020.
That’s the company’s best quarterly performance in the metric ever.
Its digital comparable sales surged 195% YoY, largely due to the rapid growth of Target’s same-day services.
Digital-originated sales made up 17.2% of Target’s total sales in the second quarter.
