MINNEAPOLIS - Target Corporation (NYSE: NYSE:TGT) revealed its strategy for growth and improved customer experience, which includes revamping its Target Circle loyalty program, launching new brands, and expanding its store footprint. Scheduled for April 7, the loyalty program will offer a free membership with automatic checkout discounts, a retail payment card for additional savings, and a paid membership with benefits like unlimited free same-day delivery.
The Target Circle program, already with over 100 million members, will introduce new membership tiers to provide more personalized and effortless savings. The free membership will continue to offer personalized deals and exclusive sales, now with automatic application of discounts at checkout. The Target Circle Card will give an extra 5% off daily purchases, extended return periods, and free two-day shipping on numerous items from Target.com. The premium tier, Target Circle 360, will include all the benefits of the other memberships plus unlimited free same-day delivery on orders over $35, access to a network of preferred shoppers, and same-day delivery from more than 100 retailers through Shipt Marketplace.
In addition to the loyalty program, Target plans to launch and expand several owned brands in 2024, aiming to provide customers with a broader range of products at various price points. The new dealworthy brand will offer everyday items starting under $1, while the relaunched up&up brand will introduce hundreds of new items. Gigglescape, a new toy brand, will roll out an assortment of products for children.
Target also plans to open more than 300 new stores and enhance the majority of its existing nearly 2,000 stores over the next decade. These investments aim to provide a more welcoming, convenient, and enjoyable shopping experience, whether in-store or through same-day services. The company will continue to improve its supply chain operations for increased efficiency and speed, including next-day delivery through sortation centers and using artificial intelligence for inventory management.
These strategic investments are designed to build on Target's core strengths and provide a foundation for future growth. The company's focus remains on delivering value, relevance, and ease to both current and new customers. The information provided is based on a press release statement from Target Corporation.
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