In this Friday, Nov. 16, 2018, photo a display shows two large Lego toys on a slide near the toy section at a Target store in Bridgewater, N.J. Companies from Target to online mattress company Casper aren’t just counting on a stronger economy to pump up sales. Target’s CEO Brian Cornell estimated last month there’s up to $100 billion in market share for grabs, double what he foresaw just a year ago. So Target is accelerating its store remodels in areas where bankrupt retailers had stores. (AP Photo/Julio Cortez)

Retailers aim to pick up business from defunct, dying rivals

November 21, 2018 - 11:37 am

NEW YORK (AP) — Companies like Target and online mattress company Casper are creating playbooks to pick up market share left behind by defunct or dying retailers.

Casper, for instance, has teamed up with department stores like Nordstrom to add pop-up shops in areas where former rivals had locations. Kohl's has mapped out where retailers like Bon-Ton and Sears shuttered stores so it can target those customers with specific ads.

Target CEO Brian Cornell estimated up to $100 billion in market share that's now up for grabs — double what he foresaw just a year ago.

But retail consultant Craig Johnson cautions against targeting shoppers from defunct retailers too much.

"The trick is capitalizing on the opportunity without going overboard," he says.

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