TARGET DOUBLE REVERSE: NO RTA AUCTION.(Target Crop.; furniture)(Brief Article)
HFN: The Weekly Newspaper for the Home Furnishing Network, August, 2002 by Buchanan, Lee
MINNEAPOLIS-Target is retreating from its highly publicized -- and equally scrutinized -- reverse-auction strategy... in one category at least.
Retooling its ready-to-assemble furniture lineup for 2003, Target has invited several vendors of ready-to-assemble furniture to participate in a two-day line review here Aug. 28 and 29, industry sources told HFN.
While Target is using online reverse auctions to merchandise other categories, the 2003 furniture lineup will be set through competitive line reviews.
One vendor, who asked not be identified, said the reverse-auction process has proven unsuccessful in setting Target's furniture assortment. "It backfired because their bottom-line pricing was too low," the vendor said.
Another...
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