Analysis Of Target Corporation

Today’s retail industry is changing how it once was even a decade ago and companies that run physical retail stores must adapt to changing if they wish to stay competitive. Target Corporation is one of the leading retail companies that have realized how the retail industry is changing. They have announced over a year ago they are investing in themselves in billions of dollars to adapt to these changes. There are goals in which Target Corporation can take like offering affordable prices, revamping stores, and expanding their online presence. These are several goals Target Corporation can work to achieve for the next five years.
Target Corporation needs their customers to feel certain that they're benefitting as much as possible from their dollar …show more content…
It’s known that customers want to be able to get exactly what they want and if they can’t they will look elsewhere. By providing a service that allows Target store employees to look at inventory systems to see about getting the item delivered to the customer will help reduce the loss of customer business. Having more service options available to customers can help Target Corporation gain more business. With the everchanging industry Target Corporation must adapt to the changes the consumers are looking for in today’s shopping preferences.
With the age of online shopping the expense of operating physical stores is starting to become a financial burden. Expansive stores are no longer looked at as a pleasing experience for consumers. Consumers are wanting to be able to get what they want without the need of walking everywhere within the store. Target Corporation needs to consider in investing in smaller stores and stores in more remote rural communities. These changes are possible with their devotion to focus on their domestic stores and …show more content…
To be able to do so it requires Target Corporation to have more open lines of communication. They need to also invest in market research to better understand the priorities of the customers and communities they serve. Investments needs to be put into Target Corporation partnerships, people, and technology. This would create a more comprehensive understanding of Target’s customers and interactions from Target’s customers. This would give Target Corporation a better understanding in the needs of their customers and the