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A Moving TargetPublished by: Retail Forward, Inc. Published: Sep. 1, 2002 - 41 Pages Table of ContentsPoint of View Growth and Outlook On a Growth Course New Store Expansion Expanding DC Capacity Store Productivity Lags Competition Getting More Out of Existing Stores Extending On-Target Strategy and Strengths Making It Chic to Buy Cheap Managing the Brand Stable Making a Fashion Statement Targeting the Home Too Many Irons in the Fire? Taking Aim at Other Categories Targeting Other Customer Segments A Global Target? Driving Frequency with “Fashionable” Food Aggressive Play for Food SuperTarget as Growth Vehicle Translating Brand Strategy to Food Creating a “Fashionable” Food Offer The Food Distribution Challenge Market Share Incursions Honing Differential Competitive Advantages Building a Multi-Channel Presence Managing “Guest” Relationships Managing Supply Chain Relationships Getting Adequate Return on Investment What It Means Competitive Implications Supplier Implications AbstractIn the next five years, Target could add 500 more stores and double its sales volume. In a recently released report entitled “A Moving Target,” Retail Forward, a global management consulting and market research firm specializing in retail intelligence and strategies, expects that Target’s future growth will come not only from continued new store expansion, but improving performance at existing stores. Retail Forward anticipates Target will continue to increase its market share in core areas such as apparel and home, newer categories such as food, and currently under-penetrated categories including consumer electronics, decorative home improvement, toys, and sporting goods.“A Moving Target,” authored by Sandy Skrovan, Vice President of Retail Forward, examines the moves the discount retailer is likely to make over the next five years to capitalize on what it does right, optimize it and extend it. “Target has hit the bull’s eye with its differentiated offer, winning brand strategy and merchandising strengths,” Skrovan states. “The company has developed a compelling strategy and business model that allows it to co-exist in the crosshairs of archrival Wal-Mart,” she adds. “Clear opportunities exist for Target to grow same store sales, drive more shopper visits, increase average ticket, and make its existing space more productive.”
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