Target Baby monitors are a big seller in the U.S. and other developed markets, but the company has seen its business slide amid an increasing number of complaints about the monitor’s high cost and battery life.
“We’ve been struggling to keep up with the demand for these monitors,” said John Schindler, Target’s chief product officer.
“We’ve lost $20 million in the past six months.
That’s really been the hardest part.”
Target, which is owned by Walmart, has a growing number of baby monitor brands, including Fitbit, Jawbone, and others.
Its baby monitor business is in a slump as people start using the devices more often, and the company says it needs to do more to get more people to use its products.
Target said its sales of baby monitors have fallen 30 percent since March.
Target CEO Brian Cornell says Target Baby Monitor sales have dropped off a cliff.
(Photo: Getty Images)Schindler said Target’s baby monitor market has been in a downturn for the past several years, and that he has spent a lot of time thinking about how to help the baby monitor brand get back on track.
Target announced in January that it was cutting its headcount, but Schindlers comments about how Target’s headcount has fallen suggest the company’s sales of the products have continued to decline.
Target is not alone in its struggles.
Many manufacturers of infant monitors have also been struggling.
The Fitbit brand lost about $25 million in its first six months of existence.
Jawbone lost $12 million in six months, while Fitbit and Jawbone have both had their battery life issues.
The growing trend for baby monitors has been a key driver of the growth of other baby monitor companies like Philips, which sells its devices in the $100 to $400 price range.
Philips also sells the Fitbit Maxx.
But some other companies have been seeing their sales dip as well.
According to market research firm comScore, Babymonitor’s sales have fallen 32 percent in the first six-months of 2017 compared to the same period last year.
In an effort to stem the trend, Target announced it was changing its baby monitor policy and cutting its sales and marketing budget.
Target also announced it would sell off its Baby monitor brand, but that it would keep its Baby monitors, the Fitbits and Jawbones, in stores.