TARGET AIMS TO ACCELERATE GROWTH WITH NEW STRATEGIES
Target Corporation has announced several new initiatives as part of its multiyear strategy, including significantly expanding its suite of fulfillment options and increasing the starting minimum wage to $12 in 2018.
Free two-day shipping is now available on hundreds of thousands of items on Target.com when guests spend at least $35 or pay with a REDcard. In 2018, millions of additional guests will have access to Drive Up, Target Restock and same-day delivery of in-store purchases from select urban stores for a flat fee.
Additionally, this year, Target will nearly triple the size of its remodel program, updating more than 300 stores around the country with elements of its next-generation store design. This includes sizeable investments in large metro areas like Chicago, Los Angeles, Minneapolis-St. Paul and New York. The retailer will open approximately 30 stores this year, the majority of which will be small-format stores in urban and dense suburban neighborhoods and near college campuses. Target will open its doors to guests this week in four communities, including small-format stores opening in the Boston, Chicago and Washington, D.C., areas.
And, based on the positive response to its new rollout of private label apparel and home brands, Target plans to accelerate the introduction of additional exclusive brands across its portfolio in the coming years.
“We’re making Target America’s easiest place to shop. That means blending the best of our physical and digital assets to create new experiences for our guests and reimagining our network of stores into hubs for commerce and community – inspiring showrooms, service centers and neighborhood-based fulfillment centers,” said Brian Cornell, Target’s chairman and CEO. “Target has been on a multiyear journey to modernize every dimension of our enterprise, and in 2018, you will see us accelerate our pace. You can expect us to continue to invest in our team as our greatest differentiator, and introduce and scale new experiences, services and brands, all in service to our guests.”
