After suffering because of its initial stance on restroom policy for transgender individuals, Target has lined up a comeback plan that aims to capture more dollars from both brick-and-mortar competitors and online competition.
Read more: This little pill bottle could explain Target’s troubles
Here’s what’s next for Target
During the second quarter of 2016, Target’s foot traffic fell by 2.2% and comparable sales dropped by 1.1%. The company also lowered expectations for the rest of the year.
But don’t count the Red Retailer out just yet.
‘Looking ahead, we…see the benefits of investing in Signature Categories, store experience, new flex-format stores and digital capabilities,’ CEO Brian Cornell told investors. ‘Although we are planning for a challenging environment in the back half of the year, we believe we have the right strategy to restore traffic and sales growth over time.’
A big part of that strategy? Smaller stores and more focus on organic and natural groceries.
Store size will shrink
While Walmart closes it smaller-format stores, Target is planning to open hundreds of smaller flex-format stores over the next few years that are less than 50,000 square feet each.
The smaller stores let the company move into downtown locations more easily. They can also help leverage the brand in the digital space by offering convenient locations for people to buy online/pick up the same day in store. That business model fuels an estimated 40% to 50% of all online sales by competitors like Best Buy and Walmart.
Greater grocery differentiation is coming
Here are 4 ways to maximize your savings at Target
Use the Target app and Target Cartwheel app
Using Target apps on your smartphone is another great ways to save. Download the apps on the iTunes store or on Google Play.
Sign up for the REDcard
Using the Target REDcard is a great way to save money. This debit (or credit) card gives you 5% back on your purchases.
Look for the ‘buy and get a gift card’ deals
Often Target will have free gift cards available with certain purchases throughout the store. You could even buy the items that warrant the gift card, and then buy other items you need on the same day, provided you break up your purchases into two separate transactions. Check the weekly ad for items that include gift cards!
Bring a reusable bag
If you bring a reusable bag, Target will take $.05 off your purchase, each time.
All these are great ways to save money at Target! And here’s a bonus: Sometime Target will have free samples located on their website here: http://samples.target.com
Read more: 12 ways to save at Target
