Will a curated marketplace strategy be an online game changer for Target?
Target is looking to differentiate its online marketplace from rivals Amazon.com and Walmart. The retailer’s answer is Target +, a choice assortment of products from third-party sellers meant to complement the goods it sells online.
“Target + provides guests with a curated selection of product choices that enhance our existing assortment, with the perks they enjoy from Target, like five percent off with a Target REDcard, free shipping and easy in-store returns,” said Rick Gomez, Target’s chief marketing officer and digital officer, in a statement.
The retailer is recruiting “best-in-class specialty and national brands” that are looking to sell directly to consumers. Target is concentrating on recruiting third-party sellers to strengthen its presence in key categories, including consumer electronics, home goods and toys.
Target has been working with Casio, Kaplan Early Learning Company, Mizuno, Music123 and Serenity Health & Home Décor as it looks to expand its marketplace, reports TechCrunch. Third parties that join Target + will be responsible for shipping and related costs, CNBC reports. Target will accept returns of goods purchased from third parties in its stores.
- Guests Have Even More to Love With Target + – Target Corporation
- Target is inviting retailers to its website — taking a different approach than Walmart and Amazon to grow online – CNBC
- Target announces launch of its curated, third-party marketplace, Target+ – TechCrunch
DISCUSSION QUESTIONS: What do you think of the Target + initiative? Will it help Target to gain online market share?