Target outlines strategy to drive profitable growth by 2030
Target store Credits: Target Corporation Retail store chain Target has unveiled an ambitious growth strategy, aiming to accelerate its multi-channel business and generate billions in profitable sales by 2030 through ongoing investments. A key initiative includes expanding the Target Plus marketplace, with plans to grow third-party digital sales from approximately 1 billion dollars in 2024 to over 5 billion dollars by 2030. This expansion will introduce hundreds of new brands, including Peloton, Daily Harvest, and Honest Baby Clothing, broadening Target’s product offerings. The company aims to enhance the integration of its physical, digital, and social commerce experiences while investing in supply chain and fulfilment capabilities to improve speed, reliability, and convenience. Additionally, the company will enhance its Target Circle benefits program to reward loyal customers. Further strengthening its brand partnerships, Target will expand collaborations with Champion and Disney and introduce shop-in-shops with brands like Warby Parker. The company also plans to double the size of its in-house media arm, Roundel, which generated over 2 billion dollars in value last year. Store expansion and modernisation are also on the agenda, with the company planning to open approximately 20 new stores—primarily large-format locations—and remodel numerous existing stores across the country in 2025. “With gains in consumer traffic, improvements in speed and reliability, and accelerating digital growth, we are doubling down on initiatives that scale these capabilities and drive meaningful top-line and bottom-line growth,” said Brian Cornell, Chair and CEO of Target.
Retail store chain Target has unveiled an ambitious growth strategy, aiming to accelerate its multi-channel business and generate billions in profitable sales by 2030 through ongoing investments.
A key initiative includes expanding the Target Plus marketplace, with plans to grow third-party digital sales from approximately 1 billion dollars in 2024 to over 5 billion dollars by 2030. This expansion will introduce hundreds of new brands, including Peloton, Daily Harvest, and Honest Baby Clothing, broadening Target’s product offerings.
The company aims to enhance the integration of its physical, digital, and social commerce experiences while investing in supply chain and fulfilment capabilities to improve speed, reliability, and convenience. Additionally, the company will enhance its Target Circle benefits program to reward loyal customers.
Further strengthening its brand partnerships, Target will expand collaborations with Champion and Disney and introduce shop-in-shops with brands like Warby Parker. The company also plans to double the size of its in-house media arm, Roundel, which generated over 2 billion dollars in value last year.
Store expansion and modernisation are also on the agenda, with the company planning to open approximately 20 new stores—primarily large-format locations—and remodel numerous existing stores across the country in 2025.
“With gains in consumer traffic, improvements in speed and reliability, and accelerating digital growth, we are doubling down on initiatives that scale these capabilities and drive meaningful top-line and bottom-line growth,” said Brian Cornell, Chair and CEO of Target.
