The retailer has some big plans including a redesign of shops and the opening a brand new store across Macy’s flagship.Exciting things are happening at Target right now, and we’re not talking about the latest bullseye deal. The retailer has some big plans afoot, including a redesign of existing stores and the opening of a brand new 43,000-square-foot store just across the street from Macy’s flagship location in New York City.
As CNBC shares, Target has provided shoppers with a little sneak peek into what the redesign will entail. Coming to Houston this October will be the brand’s first fully redesigned store, and it’s quite clear what Target has in mind. There will be two separate entrances. First, what’s known as a ‘speed’ access will point shoppers in the direction of the grocery department for grab-and-go items? Shoppers will also have quick access to the wine and beer shelves, self-checkout lanes, and a counter that’s specifically dedicated to online order pickup.
"We need to create an environment that's worthy of time," CEO Brian Cornell said at the Shoptalk conference in Las Vegas.
The other entrance will be geared towards traditional shoppers with a little more time on their hands to browse and enjoy the sights. All told, Target plans to renovate 600 stores over the next three years. The retailer also intends to become more aggressive in the area of online retail while tending to its brick-and-mortar locations.
In other Target news, the company is planning to make a big splash in the heart of New York City. Target has announced plans to open a 43,000-square foot store in Herald Square this October - right across the street from Macy’s flagship location.
"We're going after market share right now. Herald Square I expect will be one of our best small format stores," Cornell said.
Target also has its sights set on developing other small format stores, including one that was just announced for Manhattan. By the end of this year, the company aims to have 30 additional small stores opened up.
Between the extensive redesign plans, the aggressive online retail push, an expansion of its small format concept, and a clear shot across the bough directed at Macy’s, it’s quite clear that Target has no intentions of standing pat in the changing retail environment. That’s an encouraging sign for the retail industry as a whole, and one that the other main retailers will hopefully draw some inspiration from.