By opening 600 new stores in the next five years, Target may approach $100 billion in 2010 sales, according to a new report by Retail Forward. “Target 2010: Growth and Outlook” suggests that in addition to opening new stores, Target must grow sales at current outlets, take sales from competitors, get more from current customers and generate more online sales in order to achieve its goals. The report notes that after 2010, room for growth in major urban areas may run out, forcing target to look at more mid-sized markets or global locations such as Canada and Asia. In addition, the report advises that Target seek methods to change monthly shoppers into more frequent customers. The report’s author, Retail Forward consultant Jennifer Halterman, says, “During the next five years, expect to see Target boost its multi-channel efforts, further strengthen its customer loyalty programs, and continue to push the envelope with buzzworthy marketing efforts that convey the retailer’s uniqueness.”
To purchase “Target 2010: Growth and Outlook,” visit www.retailforward.com
David Thomas, CEO at Evident, is an accomplished cybersecurity entrepreneur. He has a history of introducing innovative technologies, establishing them in the market, and driving growth – with each early-stage company emerging as the market leader.