Target What exactly does it take to create a successful leading retail store? So many companies are in competition of gaining the shopper’s loyalty they end up neglecting other important aspects. A perfect retailer has to balance out high-quality, attractive prices, customer loyalty, and an enjoyable environment. “Target has experienced considerable growth in the last decade because its stores offer fashionable merchandise at low prices in a pleasant shopping environment.” (pg42) “It has developed an image of ‘cheap chic’.” (pg42) Customers are appealed by Target’s consistent value of their products and customers. “With 1,793 stores in the U.S.”, Target assures that their layout, merchandise, visual merchandising, and service all contribute …show more content…
With “bright lights, wide aisles, [and] branded signage”, customers can easily find exactly what the need and more. The racetrack layout was introduced in 1975 to Target, making it easier for the customer to loop around the store and go to each department. Because of the wide aisles set up, merchandise is displayed on all four sides to put as much merchandise out as possible. Regardless of the location of the retail stores, all locations are consistent with presenting clean and uncluttered displays with their “map”; a planogram that Target has created. Target’s famous Bullseye logo was created in 1968 and can be recognized by about 96% of people today (Target Corporate*). The Bullseye can be spotted throughout the store to “differentiate aisles, departments, and deals”, as well as on their red shopping carts and exterior of the stores at all the locations. Target keeps a consistent image with their Bullseye, red carts, and Target sign* with the exterior where any customer would recognize the store no matter which location they visit. The locations of this discounted retailer is typically located near neighborhood shopping centers that also contain similar retailers near by (Levy & Weitz, 2008, pg195). ***Add transition
As I have outlined in the charts below, there are various similarities and differences between Wal-Mart and Target. Wal-Mart is Target’s primary competitor, and vice versa. Wal-Mart has a strong market presence in its global markets and has a diverse range of products and services that are affordable and available in stock. Target, on the other hand, does not have a strong market presence or efficient product supply; however, Target’s physical environment and innovative products further the brand’s image and value. Unfortunately, Target and Wal-Mart are both e-commerce laggards with major competitors such as Amazon. Target faces complications with their pricing strategies and their product availability, which hinders their strength when competing
According to Kantar Retail, most of Target’s shoppers are younger on average than its rivals, and more educated. That means it has to consistently offer something different and appealing; it emphasizes more on the latest-trend apparel, eye-catching home décor and exclusive designer merchandise than its competitors. This results in a willingness to pay a bit more for items by customers who are willing to pay a bit more. Moreover, this successful
Target, a high-end discount department store, hoped to continue expanding and adding to the company’s 1,752 stores, by purchasing 200 Zellers stores, located in Canada. One of Target’s, longtime goals was to expand into Canada , and after a decade, the company took a jump across the border (Shaw, 2011). Because many thousand Canadians hold a Red Card, Target’s reward card, Target assumed this would be a successful expansion, increasing the amount of US brands that encompass Canada’s market. Target spent a year converting the Zeller stores, altering and renovating them to transform them into Target Canada, a subsidiary of Target (Shaw, 2011). They opened 124 stores in locations all over Canada, hiring back only one percent of the former Zellers employees, desiring to make a fresh start for the department store chain (Target Refused Zellers Workers).
The first Target store had been opened in the year 1962 in the suburb of Roseville, Minneapolis with a tough focus on the easy shopping at a competitive amount of discount prices. In the year 2013 in which the Target remains very committed for providing an easy shopping experience for the guests by delivering the distinctive merchandise and the outstanding value. The Target currently has been the second largest retailer in America with Target.com and it is ranked as the mostly visited retail web sites (Target Co, 2013).
Target Corporation is among one of the largest retailers in US with its headquarter located in Minneapolis, Minnesota. The company is recognized within the top 500 most valuable brands as of 2012 as well as the top 25 retail brands in 2012 (Target Corporation SWOT Analysis, 2013). Target took birth on May1, 1962 as a “new idea in discount stores”. Gregg W. Steinhafel is the current chairman, president and CEO of Target (www.corporate.target.com). The company has a vast product offerings such as- household essentials, including pharmacy, beauty, personal care, baby care, cleaning, and paper products; hardlines comprising music, movies, books, computer software, sporting goods, and toys, as well as electronics that consist of video game hardware and software; apparel and accessories, such as apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes. It also provides food and pet supplies, including dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, produce, and pet supplies; and home furnishings and décor, such as furniture, lighting, kitchenware, small appliances, home décor, bed and bath, home improvement, automotive, and seasonal merchandise comprising patio furniture and holiday décor (www.finance.yahoo.com). It has 1,921 stores with an approximated labor force of 361,000 fulltime and part-time employees. Target reported revenue for 2012 was $73,301 million with a 6.1% increase in total sales (www.investor.target.com). Targets global expansion limits to India and Canada for now with 37 distribution centers. It is also aggressively penetrating the online market via offering its products and services on the official website. (www....
1. The Discount Department Store. Target prefers to be called as the latter instead of just department store. Expect more, pay less. With this tagline, the customers expect to purchase more items and pay the least amount possible. Not like other retail industries like its competitor Kmart and Wal-Mart, Target maintains retail value in terms of product offerings. They are known in their designer’s items in clothes, exclusive beauty products, categorized and functional goods, and seasonal offerings. It also sells the greatest number of gift cards among its rival business.
Being a Target lover, it is my go to place for everything and because of this, I do not support Target’s new strategy. Within the article, Target explained how they were going to “gear” their products towards college students. Target stated their plan to eliminate the baby section (i.e. clothes, toys), however that alone upsets me. For starters, I have a young niece and nephew and I go there for the holidays and birthdays to purchase their presents. If the Target near me didn’t have similar products as a traditional target, they would lose my business in this particular category, which as a side note is a lot. The second part of this article that upset me was in regards to what the new Targets would stock near college campuses, “miniature ironing
Target offers products like household goods and sporting equipment. Target and Wal-Mart are similar in the items that are sold. Target offers products for families for kids of all ages, plus has shopping for adult clothing. Target offers movies, CD's, and DVD's. Target also offers vacuum cleaners, bed and bath supplies, and kitchen supplies. Target is another example of a one stop shop.
Moreover, the vision statement of Target Corporation focuses on fulfilling the needs and expectations of customers ((Mission & values, 2014). Also, the organization focuses on providing high quality products and services at a reasonable price. Several positive beliefs and value are followed by the employees of Target Corporation. Also, Target Corporation focuses on building strong relations with suppliers. Besides, the company prepares several reports on the yearly basis.
Target’s Mission Statement is to make Target the preferred shopping destination for guests by delivering outstanding value, continuous innovation and an exceptional guest experience, and consistently fulfilling our Expect more. Pay Less. Target positioned
Target Corporation, the company like any other large retail company for example, Wal-mart offers an assortment of its general stock and sustenance through its store and advanced diverts in the United States to their clients at a rebate. It 's wide stock stores offers an assortment of food, including perishables, dairy, dry grocery and frozen items while its Super Target stores offer a line of sustenance items similar to customary grocery stores. Datamonitor, (2007). Target offers its services and products they offer into different ways hence there are those being sold at their stores and those that are sold online, for examples. The target stores such as CityTarget and TargetExpress sells edited general stock and nourishment combinations while
In order to develop a strong strategy to position Target Corporation competitively, it should understand the current environment, its competitor and their strengths and weaknesses, and any of their planned moves (CEA, n, d). Target Corporation needs to take its retail trade strategy into consideration of the external environment and to establish long term market needs. Further, it can take advantage of its strength such as high product differentiation, quality supply chain, technology used for automation, quality product, clean and spacious friendly stores to develop its retail sales to the future consumer and market need that will
Target Corporation recognizes the importance of technology in reaching its customers. In 2011 the company launched a completely redesigned website that focuses on ease of use. Target also has an industry leading mobile application that allows the company to reach its customers regardless of where they are located. In fact, Mobile Commerce Daily named Target the “2010 Mobile Retailer of the Year” (Target Corporation, 2011). It is in this sector that Target’s potential for growth is the highe...
Target has a large store footprint and enjoys considerable brand recognition. The company’s portfolio of owned and exclusive brands is also a key strength, allowing the retailer a valuable differentiating lever in a highly competitive retail
People are always going to go shopping. A lot of our effort is just: 'How do we make the retail experience a great one? '” - Philip Green