Target Corporation (NYSE:TGT) has experienced a lot of frenzy over the Lilly Pulitzer Collection which sold out from the company’s stores. The shortage has resulted in a lot of disappointed female customers who had eagerly anticipated the much sort-after collection.
Some of the early shoppers managed to get their hands on the much the sort after collection from Lilly Pulitzer. The clothing line quickly gained a massive following due to the stylistic design that has been incorporated to blend with the spring and summer season.
Items from the Pulitzer collection were not only sold out in the stores but also in the online departments. Even more annoying is that Target’s app and online platform both crashed, perhaps because of more traffic than the servers could handle. Some of the buyers who had already bought them are already posting their purchases for sale on e-commerce websites such Amazon in a bid to make some profit. The collection is in such a high demand that customers are willing to pay exorbitant prices just to acquire the products.
CEO and retail analyst to Belus Capital Advisors, Brian Sozzi visited some of the Target stores to witness the frenzy. He reported that some of the racks and shelves were either empty or looked like they had experienced animal attacks.
Sozzi’s analysis was that Target could have avoided the whole problem by limiting the number of purchases. The company knew that the collaboration with Pulitzer would be lucrative, and demand would be high. Normally in such situations, retailers limit the number of purchases that each can make. This allows more customers to access the product that is in limited supply.
Target Corporation (NYSE:TGT) sold entire sets to individual buyers and thus failed to consider limits as a solution to shortages. The company’s shortcomings with the Pulitzer collection has been likened to Black Friday sales. The retailer has chosen to look at this as a blessing rather than a curse as it will teach them to make better preparations in the future.