As holiday shopping winds down, new research shows Toy shoppers are migrating in greater number to Target stores than the main competition which includes Toys R Us and Wal-Mart.
The consumer migration index (CMI) - which measures both new customers and departing customers within the past year for the top retailers â€“ indicates that Target is outpacing the competition as the biggest competitors all lose customers. A positive ratings mean growth for a firm.
â€œTarget was the only retailer to hit the bullâ€™s-eye with new customers with a +4.5 rating. Toys R Us slipped the most with -3.9, while Wal-Mart (-1.0) and Kmart (-1.5) faced smaller customer deficits,â€ the report stated.
Despite more customers, Wal-Mart is still the top destination for toys, taking a 23 percent market share compared to its closest rival Toys R Us, which has an 18.2 share. Kmart remain the least stores in the top 5 for consumers to shop for toys.
Some of the main factors affecting store choice are price and selection according to the firm.A majority of customers, 50.5 percent, believe that price is the reason to choose a particular store but more than four in five choose a toy retailer based on their selection. Depending on who the shoppers are, the retailers they used would be different.
Specialty shoppers who prefer a better selection are most likely to shop at Toys R Us and KB while those more sensitive to price would head to discount retailers such as Wal-Mart, Target and Kmart, the firm said.
The survey was taken among 8,000 people from December 5 to December 13.