Carol Spieckerman

Target Outlines Plans for Future Growth

January 22, 2010

FROM RETAILWIRE:
Target has a multi-pronged approach for the future and the chain is hoping its strategic plan will help it achieve growth for the short-, medium- and long-term. Where do you see the greatest opportunities for growth for Target?      [more...]

All of these moves feel like a big case of catch-up. Necessary and overdue, but still "me-too." In a blog post last September, I expressed concern over the yawn-snore that retail has become as retailers' focus lingers on correcting errors rather than making the store environment a more compelling reflection of the culture.

A couple of years ago, Target would have seemed poised to take the lead in this regard; as it stands, the newness of their designer brand strategy and pop-up store antics are wearing off and they risk losing the last vestiges of their groovy-dom as they swing wildly back to a focus on value.

Target was slow to acknowledge the need to incorporate a value message into their brand promise (as Greg Steinhafel stated, focusing on the "Pay less" part of Target's "Expect more. Pay less" tagline), yet they were quick to execute and for that, they deserve tremendous credit; however, value and hip are not mutually exclusive (as vertical fashion retailers such as Uniqlo have proven). If Target doesn't quickly reclaim its rightful place as a retail innovator, they will be leaving the door wide open for someone else who will.

I did not want to hear the term "remodel" from Target; "re-vision" would have been more resonant.