Find in the news:

Target Has Big Plans For Smaller-Format Stores

The next growth spurt for the retail giant may very well come from the addition of new locations, just with a much smaller footprint.
When we think of big box retailers, our thoughts quickly turn to massive locations that eat up a lot of square footage and parking lot space. The changing tides in the retail world have led some of them to rethink some things when it comes to future growth opportunities, and Target is at the forefront of that line of thinking. As Bloomberg reports, the next growth spurt for the retail giant may very well come from the addition of new locations, just with a much smaller footprint. 

This past week, Target held its annual fall national meeting at its Minneapolis headquarters. While numerous topics were addressed, one thing that stood out was a comment from chief executive officer Brian Cornell, who opened up about one of his long-term visions for the retailer. Cornell envisions the company eventually opening hundreds of what he refers to as “flex-format” stores, which require a much smaller footprint than a traditional Target store. 

The company has already opened nearly two dozen of them in major cities such as Chicago and Philadelphia, and there are 25 more in the pipeline between the rest of this year and the end of 2017. The flex-format stores typically check-in at less than 50,000 square feet, and the concept opens up more options for expansion. As opposed to a massive lot that houses one of their familiar stores, the smaller stores can fit into downtown areas pretty easily, which is something that’s impossible for a big box-type store. 


In addition to the smaller size, the concept is intriguing because it can be targeted to a specific area’s demographics. One of the locations that are in the pipeline is in the Tribeca neighborhood of New York City, and that’s an area that’s abundant with families. That translates to the planned flex-format store having a large focus on children’s merchandise. As Cornell explained, that’s “unlike our store at the University of Maryland, where there is a very little baby, not a lot of toys, and a big focus on beauty and apparel.”

Target’s biggest rival, Wal-Mart, abandoned its strategy of opening smaller stores earlier this year, but there’s a pretty glaring difference between the two behemoths strategies. Wal-Mart’s Neighborhood Market concept was generally focused on rural areas, and it just didn’t catch on as the company anticipated. 

Related shopping malls and stores:

More about shopping malls in the USA

Dec 25, 2023, United Kingdom:
Nestled in the historic heart of London and renowned for its Georgian-era architectural splendor.
Dec 25, 2023, USA:
The company emphasized that cost-cutting is a pivotal focus for its future endeavors.
Dec 22, 2023, United Kingdom:
The sports giant has joined a long list of international brands that will open their store doors at Trinity Leeds shopping center.
Dec 22, 2023, Austria:
The brand will present at iconic locations such as Cortina d'Ampezzo in Italy, Zermatt in Switzerland, and Hochzillertal-Kaltenbach in Austria.
Dec 21, 2023, USA:
Italian fashion house has sealed a deal to acquire the building housing its flagship store.
Dec 21, 2023, Mexico:
Luxury French fashion house Zadig & Voltaire has unveiled its boutique in Mexico City.
and Follow
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Viaport Outlet GLA:748 092 SF
ADDRESS: Yenisehir Mah. Dedepasa Cad. No:19 Via Port - Pendik
Turkey . Istanbul
Viaport Outlet
FAN Mallorca Shopping GLA:592 015 SF
ADDRESS: C/ Cardenal Rossel, S/N. 07007 Palma de Mallorca
Spain . Palma
FAN Mallorca Shopping
South Coast Plaza GLA:2 800 000 SF
ADDRESS: 3333 Bristol St, Costa Mesa, CA 92626
USA . Los Angeles
South Coast Plaza

Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by administrator.


Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by administrator.

Sign in
Sign in please, if you already have an account


Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please. Team
Thank you for message!
In the near future you will be contacted the manager
for further details. Team
Good mall, bro!
In the near future you will be contacted the manager
for further details. Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details. Team

Write to us