Retail sales were actually way down in Q3 2011, but not at Target thanks to a high-end Italian designer named Missoni who created a special limited-edition of the zig-zagged line of items specifically for Target stores. Dresses that were typically $1,500 in New York were now on sale for $39.99 at Target stores across the country. But not for long.
Stores sold out of many of the items in less than an hour as people, who had been waiting in line over night, ran through the stores grabbing anything and everything they could. The extreme high-levels of demand even crashed the Target.com online store, which was down for hours as their servers overloaded with web traffic from those "smart" enough to avoid the lines. It was big hit to say the least: Missoni Stampede at Target. And Target's 6-week supply disappeared in 1 day.
"As a point of comparison, what we are really seeing today would compare to a Black Friday morning. So, the largest shopping day of the year," according to Dustee Jenkins, Target Vice President of Communications.
The limited-edition Missoni line at Target not only drove interest, but also drove sales to unprecedented levels for a retail store. Just proof once again that something exclusive is something of value. Don't take it for granted. And promote the hell out of it. And Target successfully did just that.
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