From cashmere to faux fur, Target’s holiday push centers on affordable luxury

Oct 21 (Reuters) Target on Wednesday announced a holiday strategy centered on affordability as consumers strain under rising cost of living, ​featuring what it called “luxe for less” items ‌like cashmere sweaters priced as low as $45 and faux fur throws for $30. Researchers at NielsenIQ earlier this year found that consumers still have a taste for luxurious items, but ‌are ​being choosier as prices rise. Here ⁠are some details: • The ⁠company said in a press release it will introduce 8,000 new items for the holidays, more than half of them exclusive to ​Target • Toys are a must-win category as the retailer is set to add 3,000 new items ⁠across its fun101 assortment of ⁠toys, tech, gadgets and fandom merchandise, ​Chief Merchandising Officer Cara Sylvester said at an event ​in New York on Tuesday • Under Michael Fiddelke, ‌who took over as CEO in February, Target is trying to recapture the combination of style and affordability that had earned it the “Tar-zhay” moniker • ⁠Target w