Target Adds Fresh Grocery to Pick-Up, Announces Rollout of Smaller Format Stores
UNITED STATES - Target is taking a revamped approach to its grocery strategy, recently announcing that it intends to add fresh groceries to its grocery pickup options and also plans on testing a 6,000-square-foot convenience store concept.
“Target is winning in the marketplace because of our differentiated investment strategy, durable financial model, and our team’s incredible work in reinventing the Target run to deliver a shopping experience like nothing else in retail,” stated Brian Cornell, Chairman and CEO, at the retailer’s annual investors meeting. “As we look to 2020, we’ll continue to elevate our popular same-day service and expand our ambitious small-format and remodel programs to create an even easier and more convenient experience that inspires our millions of guests to keep shopping Target in new and different ways.”
According to a report from CNBC, Target is considering opening nearly three dozen new small-format stores in 2020. These stores are meant to target different markets, such as college campuses or urban areas. This is in addition to the even smaller c-store format—the 6,000 square foot—which is currently only in the testing stage. A lease in the works for this store and plans are in talks to open it sometime in 2021.
As grocery pickup and smaller formats continue to reshape the retail landscape, how will Target’s new strategy play out? AndNowUKnow will continue to report.