Divisional Merchandise Manager of Entertainment
POWER MOVE: More than three dozen albums with Target-exclusive content, including from key artists like Taylor Swift and One Direction.
THE RUNDOWN: One of music retail’s most powerful executives is also one of its newest arrivals. Anne Stanchfield, Target’s divisional merchandise manager of entertainment, just stepped into her role overseeing music buying for the big box’s 1,782 U.S. stores at the beginning of 2013. She’s already rolling up her sleeves to lead strategy, partnerships and inventory for a company that’s declined in market share recently (5.5% in 2011 compared with 7.8% the prior year, according to estimates) but has risen in its impact on major releases.
In 2012, Target released nearly 40 albums with exclusive content and, in some cases, spent upwards of $7 million on prerelease TV campaigns, delivering major exposure to artists. Taylor Swift’s Red became the company’s largest-selling title last fall when it sold more than 400,000 copies at Target stores. The company also commanded a 55% market share of physical first-week sales of One Direction’s Take Me Home by moving 95,000 copies of an exclusive edition.
Next on Stanchfield’s list: exclusive editions of Josh Groban’s just-released All That Echoes and Mindless Behavior’s sophomore album. And Stanchfield is open to re-evaluating Target’s digital strategy, including the iTunes deal discontinued by former entertainment VP John Butcher. “We’re always looking for a plan that best meets our guests’ needs, whether it’s online or in stores,” she says.