Target announced plans to invest in its guest experience and long-term growth with a focus on different areas that include expanding memberships, growing private brands and investing in new stores.
“For years, Target has consistently built for the long term, investing in the assets, capabilities and team that have differentiated our business, allowing us to serve guests in any environment and driving strong growth,” said Brian Cornell , president and director of Target.
“Today, with that same long-term vision, we are making strategic investments that expand our core strengths, further elevate our guest experience and deepen our connection with current and new guests. Most importantly, these plans provide fuel for our next era of growth,” Cornell added.
New Target Circle
On April 7, Target will reintroduce its loyalty membership program, Target Circle, with a set of memberships that complement each other, including the continuation of a free membership, retail payment card options, and a new paid membership. Target Circle is already one of the largest loyalty programs in retail, with more than 100 million members.
Membership options include:
Target Circle
Target will continue to offer its popular free membership with personalized offers, year-round member-only sales, and additional perks and savings. Offers will now be automatically applied at checkout, so members are sure they’re getting the best value every time they shop.
Target Circle Card
Consumers can apply for a Target Circle Card (formerly known as Target RedCard) to get an extra 5% off every day, as well as extra time to return items and free two-day shipping on hundreds of thousands of items at Target. com.
Target Circle 360
Consumers can also sign up for Target Circle 360, a new paid membership that includes free unlimited same-day delivery on orders over $35 in as little as one hour with no delivery fees or margins, free two-day shipping, access to Preferred Shoppers who They can customize their experience and access to Shipt Marketplace, which offers same-day delivery from more than 100 retailers nationwide.
New and expanded Target brands
In 2024, Target plans to launch and expand its more than $30 billion private label portfolio with new, on-trend items, quality and value.
Continued investments in stores and supply chain
Target will continue to invest in its stores-as-centers model over the next decade with plans to build more than 300 new stores to reach new guests.
It will invest to improve the vast majority of its nearly 2,000 stores, with projects ranging from complete remodels to adding Ulta Beauty locations, upgrading fixtures, supporting same-day services and more.
Will continue to improve supply chain operations to increase efficiency, speed and capacity, including next-day delivery through sortation centers, and use artificial intelligence to drive better inventory efficiency and forecasting throughout your network.
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