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SENSOR TOWER · ABRAHAM YOUSEF · APRIL 2024
MMM: Target Circle Week App and Advertising Trends; Conversion Data Reveals Momentum During Circle Week Events
Sensor Tower data indicates that Target dedicated a fifth of its US ad spend towards TikTok during its Apr'24 Circle Week promotion, compared to 7% during both the Jul’23 and Oct’23 Circle Weeks, which may suggest that the company was trying to reach a young and heavily engaged audience. ST’s proprietary web and app panel data reveals that the Target app saw a larger swell of conversion events during the promotion than the target.com website in the US.
Key Takeaways:
Likely in an effort to compete with peers running similar spring promotions to bolster sales during slow seasons, Target launched another Circle Week campaign this month. Per ST data, Target spent 5% more on digital advertising during the Apr’24 Circle Week (week of April 7-13) compared to the Jul’23 Circle Week, though the retailer’s total US ad spend during the Apr’24 Circle Week generally lagged that of the Oct’23 Circle Week by 18%
Target’s top three channels by spend during the Apr’24 Circle Week were Pinterest (26%), TikTok (25%) and Facebook (18%). Comparatively, during Target’s Jul’23 and Oct’23 Circle Weeks, the brand allocated merely 7% of total US ad spend towards TikTok, which shows that the channel has become a key avenue for the brand as it’s likely trying to reach younger and heavily engaged consumers
Keywords in creatives related to Target’s Apr’24 Circle Week reveal that the company started promoting the sale on April 2, roughly five days before it went live. From April 2-13, Target allocated an average ~28% of its total ad spend to creatives highlighting Circle Week. On the first actual day of the sale (April 7), Target deployed ~40% of its total ad spend to promote the event
Per ST data, Target’s advertising strategy may have contributed to larger swells of web and app traffic over each sales period. Target.com average page visits in the US increased 29%, 37%, 42% and 47% WoW during the Jul’23 Circle Week, Oct’23 Circle Week, Nov’23 Black Friday Week, and Apr’24 Circle Week sales periods, respectively. US Target mobile app DAUs increased 17%, 17%, 28% and 23% WoW, respectively, during the aforementioned sales periods
ST’s proprietary web and app panel data reveals that Target also saw commensurate growth in average conversion events during its recent sales promotions. The average number of conversion events on Target.com in the US increased 44% WoW during the Apr’24 Circle Week, compared to +62% on the Target mobile app, which may suggest that US consumers are increasingly flocking to and relying on the Target app to make purchases during limited time sales events, more so than the website
For more information, request the full report from reports@sensortower.com.
