Not many could foresee the growth Target would achieve in such a short timeframe. The company first opened in 1962 in Roseville, MN, and by 1972, the company had expanded to 46 locations. By 1982, the company had expanded beyond the central U.S., and by 2008, there were 1,600 stores across the nation.
As K-Mart failed become a major rival and compete with Walmart at the highest levels of the supercenter world, a vacuum of sorts was formed. Target quickly jumped in to take control of the number two slot, and continues to grow as it successfully lures moms, millennials and others who typically oppose the supercenter lifestyle.
The company recently began testing a smartphone alert system to deliver deals and reviews to customers as they walk through a store. Utilizing "beacon" technology, these reviews and deals are delivered directly to a consumer's smartphone app as they walk through the store. Relevant coupons and product recommendations are tailored specifically by where they are located while they are in the store.
Target also announced it would rebrand its CityTarget and TargetExpress brands, which expanded to 14 urban locations across the country. The initiative, three years in the making, will continue under the traditional target brand. The company noted that all CityTarget and TargetExpress locations would be rebranded, beginning in October. The company reiterated that it intends to continue expanding in urban environments with store plans tuned specifically for city living.
Sales for Kellogg’s U.S. morning foods unit declined 1.3% in its fiscal third quarter, reported CNBC (Oct. 31). Despite the decline, company officials see improvements on the horizon.read more
Food continues to be teens’ top spending category, remaining at its 24% peak, according Piper Jaffray Companies’ semi-annual Taking Stock With Teens survey. Chick-fil-A is the No. 1 restaurant among the age group, followed By Starbucks, which remains the only publicly traded brand with double-digit mindshare,.read more
Chris focuses on fresh, canned and frozen fruit and fresh and dried vegetables for the Food Institute Report. In addition, he assists in compiling data for various Food Institute publications throughout the year. He is a proud Rutgers University alumnus with a degree in English, and has a background in web writing for a variety of industries, including legal, foodservice and small-to-medium sized businesses. In his downtime you can find him watching New York Yankees baseball, hiking, enjoying live music and spending time with his dog Kaiden. He invites you to contact him via email at email@example.com to talk about anything food-related.
There are no comments, yet. Why don't you add one?
10 Mountainview Road
Upper Saddle River, NJ 07458
Food Institute reps are available to answer your questions
BECOME A MEMBER
For close to 90 years, The Food Institute has been the best "single source" for food industry executives, delivering actionable information daily via email updates, weekly through The Food Institute Report and via a comprehensive web research library. Our information gathering method is not just a "keyword search."