Why Big-Box Retailers Target And Kohl’s Are Going Small
While many retail companies are closing stores or closing up shop altogether, some big-box retailers are boosting business by opening new, smaller stores in strategic locations. Target in particular is finding new customers in places where there isn’t enough space for a warehouse-like big-box store, but where there are plenty of people who appreciate the convenience these stores offer. Target’s new small-format stores are typically in big cities, near college campuses, and in dense suburban spots where space is limited. Target announced this week that it would open three new small-format stores in New York City – one on the Upper East Side of Manhattan, one in Queens, and the third in Staten Island – over the next two years, and another in Chicago’s Logan Square in 2020. The retailer already has several small-format locations in New York, including Herald Square and Harlem, and says it will have more than 130 small-box stores in operation by the end of 2019. Read more at Forbes.
