Starting in 2023, Target plans to renovate more than 200 stores and open 30 new outlets.
Grocery giant Taget will begin testing a new large format. The retailer will open about 150,000 square feet of stores, an average of 20,000 square feet more than the chain's average hypermarket.
The company will continue to develop other existing formats, but it is the largest stores that will be the focus in the coming years. The revamped format will also make greater use of open floor plans and localized design elements.
"With our reimagined store design and larger store footprint that better supports our same-day services, we can give guests more of what they love while incorporating features that build on our commitment to sustainability, community and helping all families discover the joy of everyday life," said Target Chief Operating Officer John Mulligan.
Target has aggressively pursued small, 17,000-square-foot to 50,000-square-foot formats in recent years and has also launched 6,000-square-foot ultra-small stores to expand its neighborhood coverage.
The new large-format stores will include additional space for a wider range of merchandise, as well as five times the amount of backroom space. At the same time, large windows will be introduced for natural light, as well as trees and plants - to create a "welcoming and inspiring space." In addition, stores will be given "local" names to localize the brand. Solar panels will be installed on the rooftops of the stores and charging ports for electric cars will be installed in the parking lot.
Starting in 2023, Target plans to renovate more than 200 stores and open 30 new outlets. Beginning in 2024, the retailer will only open stores in the updated format.