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Target
Target

-4.9%

Retail / Retail discount department stores and hypermarkets


Company at a Glance

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Overview
Target Corporation is a retail company founded in 1902 in Minneapolis, Minnesota. It is known for its large chain of department stores which offer a variety of products such as clothing, cosmetics, electronics, and home goods. The company is one of the largest discount retailers in the United States with over 1,800 stores nationwide. Target also has an online presence and offers services such as same-day delivery and order pick-up at select locations.
Target has a strong focus on providing a unique and enjoyable shopping experience for its customers. The company prides itself on its stylish and affordable products, as well as its commitment to sustainability and social responsibility. Target also offers a variety of services, including a pharmacy, optical center, and photo printing.
In recent years, Target has expanded its offerings to include grocery items and has also acquired various brands to further diversify its product range. The company continues to grow and evolve, with plans to open more locations and enhance its online shopping experience.
What is special about the company?
There are several things that are special about the Target company:
1. Unique Shopping Experience: Target offers a unique shopping experience with its bright, clean, and well-organized stores. Its "Tar-zhay" branding and curated selection of products create a more upscale and enjoyable shopping experience compared to other big-box retailers.
2. Strong Brand Reputation: Target has built a strong brand reputation over the years, being known for its quality products, trendy designs, and competitive pricing. Its loyal customer base is a testament to its trusted brand image.
3. Diversified Product Offerings: Target offers a wide range of products, including clothing, home goods, electronics, grocery, toys, and more. This diversification allows the company to cater to a broader customer base and reduces its dependence on any one category.
4. Focus on Inclusivity: Target has made a strong commitment to inclusivity by offering a diverse range of products and partnering with underrepresented brands and designers. It has also been praised for its inclusive hiring and workplace practices.
5. Community Engagement: Target is actively involved in giving back to the community through various initiatives, including its "Target Circle" loyalty program, which allows customers to support local nonprofits and schools with their purchases.
6. Strong Online Presence: Target has a robust online presence, with a user-friendly website and mobile app for convenient shopping. It also offers a variety of online services, including same-day delivery, curbside pickup, and subscription services.
7. Sustainability Efforts: Target has set ambitious sustainability goals, such as using 100% sustainable cotton in its products and achieving zero waste in its operations. It has also made efforts to reduce its carbon footprint and invest in renewable energy sources.
What the company's business model?
The Target company's business model is a retail model that focuses on offering a wide range of products, including clothing, household goods, electronics, and groceries, at affordable prices to a broad customer base. The company operates through a network of brick-and-mortar stores and an e-commerce platform, targeting both in-store and online shoppers. Target also partners with various brands and designers to offer exclusive and trendy products. The company uses a combination of strategic pricing, product differentiation, and customer service to attract and retain customers. Additionally, Target offers various services such as same-day delivery, store pickup, and loyalty programs to enhance the shopping experience for customers.
Interesting facts about the company
1. Target was originally founded in 1902 as a small dry goods store called the Dayton Dry Goods Company in Minneapolis, Minnesota. The first Target store was opened in 1962 in Roseville, Minnesota.
2. The name Target was chosen by the founder, George Dayton, because he envisioned the store as a place where customers could easily find low-priced products, similar to hitting a target.
3. Target’s well-known red and white bullseye logo was first introduced in 1962 and has remained largely unchanged since then.
4. In 1969, Target became a part of the Dayton-Hudson Corporation, which also owned department store chains such as Dayton’s, Hudson’s, and Marshall Field’s. The corporation was renamed Target Corporation in 2000.
5. Target is well-known for its partnerships with popular designers and brands, including Isaac Mizrahi, Lily Pulitzer, Missoni, and more recently, Victoria Beckham.
6. The first Target commercial aired during the 1958 Academy Awards, and the company has since become known for its memorable and often humorous advertising campaigns.
7. Target was one of the first retail chains to offer a store credit card to its customers in 1995.
8. Target was the first company to create a secure online shopping site in 1995.
9. The company has a strong commitment to sustainability and has been named one of the world’s most ethical companies by the Ethisphere Institute for several years in a row.
10. In 2015, Target made history by appointing its first female CEO, Brian Cornell.
11. Target has over 1,800 stores in the United States and is also expanding internationally, with stores in Canada and plans to open in Mexico.
12. Target’s popular discount program, Cartwheel, was launched in 2013 and has saved customers over $1 billion since then.
13. In 2017, Target announced a goal to invest $7 billion over the next few years to redesign and renovate its stores to enhance the customer experience.
14. Target operates a philanthropic arm called the Target Foundation, which donates millions of dollars to various charitable causes each year.
15. In 2018, Target announced its plan to raise its minimum hourly wage for its employees to $15 by the end of 2020.
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