Apr 7, 2017
Brian Cornell, Chairman and CEO of Target has announced a major redesign of stores to cater for shoppers who would otherwise patronize convenience stores but with a layout appealing to customers who linger over their shopping. Ten minute-limit parking spaces will be available near doors and aisles will be curved to encourage browsing. It is hoped that these innovation which seem to represent a compromise will be successful in their objective and not merely rearranging deckchairs on the Titanic.
Target has tried a number of concepts during the past two years in order to restore declining same store sales. It is anticipated that 600 of 1,800 total locations will be updated over the next three years with the intention of increasing same-store-sales by 2 to 4 percent.
Target has encountered competition from Walmart but has also lost business to Amazon and other online providers in addition to a proliferation of smaller stores catering to millennials.