RTL 3030 -Questions for Target Inc Case Study-Johnson & Wales University .

RTL 3030 7 Sep 2020 Target Questions Read/Review Target case study. Prepare questions for Target Management Team due 9/8/20. Hello Tutor Tanny, No reference or cover page need, just prepare maybe any two or three questions will be great. Thank you so much!! case study This case presents a scenario with a hypothetical challenge. By participating in this activity/competition/etc. you are confirming understanding that this case study topic is a hypothetical situation that may or may not be part of Target’s previous, current or future business endeavors. Your personal ideas, or those of your team are used for educational and developmental purposes surrounding this University project/activity. You are also confirming understanding that any similarities in Target’s future business practices nationwide are purely coincidental. Driving Profitable Sales in Apparel & Accessories. Situation Analysis. Retail is currently going through an evolution where consumers now have more options than ever for where to shop. Online shopping continues to grow and offer many conveniences over traditional brick and mortar retailers. That said, retailers must continue to assess and understand what a guest looks for in a retail shopping experience. In addition, they must consistently execute and find ways to differentiate from the competition. Target has made the strategic decision to leverage Apparel & Accessories as a key area that will differentiate them from other retailers. With exclusive design partnerships, fashion forward trends, great in-store events, knowledgeable friendly staff, great prices and great product availability, Target is poised for success in driving frequency and increased traffic – in stores and through its digital channels – which will ultimately result in profitable sales. Part of making this strategy a reality is the role of the softlines Executive Team Leader (ETL), who plans and executes a store’s Apparel & Accessories experience so that it complements the digital experience and drives sales. As a key leader at Target, ETLs are involved in hiring, training and sharing their vision with their team. They are responsible for building a culture that is focused on guest experience, industry leading brand presentation as well as a clear value message for our guests. All of which have a significant impact on the success of the company. The Company. 1 Target Corporation (NYSE:TGT) is an upscale discount retailer that provides high-quality, ontrend merchandise at attractive prices in clean, spacious and guest-friendly stores. With total 2018 revenue of $74.4 billion, Target has over 1,800 stores and 39 distribution centers in the United States, and over 320,000 team members worldwide. Its online business can be found at www.target.com. The first Target store opened in 1962 in the Minneapolis suburb of Roseville with a focus on convenient shopping at competitive discount prices. Target currently is the second largest general merchandise retailer in America, with Target.com consistently ranked as one of the most-visited retail websites. The company continues to deliver on its brand promise of “Expect More. Pay Less.” Since 1946, established with the Dayton Company, Target has given five percent of its profit to communities, which today equals millions of dollars a week. Corporate Responsibility magazine has named Target on its “100 Best Corporate Citizens List.” Target is recognized as a leader in innovation across the retail industry. From pioneering the concept of designer partnerships to consistently being best in class in store design, Target remains focused on not only meeting, but exceeding its guests’ needs. To remain relevant to its guests over time, Target continually reinvents its stores, including layout, presentation and merchandise assortment, to create an engaging shopping experience and fulfill the Expect More. Pay Less. brand promise. The Guest [Consumer]. Target’s core guests are incredibly diverse, and no one segmentation can describe them fully. We learn a lot about them from spending time getting to know them as people, not data points. Typical guests have kids in the household and lots of demands on their time. Guests actively shop in-store and online and use technology while shopping, with one hand on their cart and one hand on their smartphone. They enjoy shopping and want to tell their friends, remaining engaged with social media while shopping and sharing their feedback and experiences online. They are often influenced by others and share their findings to influence others. Today’s consumers demand great value, which is much more than price – value is a combination of price + assortment + experience, and it’s a unique equation for each person. It’s feeling like you gave more than you got. Consumers have a wide range of retail choices, and are willing to hunt to take advantage of the best value. But, with so many demands on their time, consumers are also looking for convenience. Retailers have answered this trend by partnering with mobile payment applications and shortening the number of steps required from browse to checkout, both digitally and physically. In terms of obtaining the purchased product, free shipping and in-store pick up are becoming increasingly important for online transactions, as well as length of time until product is received. For Target, the guest is at the center of everything. The company is continually developing new ways to serve the guest anytime, anywhere. Target today remains committed to providing a one-stop shopping experience for guests by delivering differentiated merchandise and outstanding value with its Expect More. Pay Less® brand promise. The Competitive Landscape. 2 While retailers have increased their online presence to compete with Amazon, the challenge is creating a complementary in-store experience that drives foot traffic into the building. New initiatives are announced on a weekly basis that will transform and lead retail innovation when it comes to being fashion forward and trend-setting. With continued emphasis on style and differentiation, consider market players who have a distinct in-store experience, such as Nordstrom, Anthropologie, Lululemon, Athletica, Gap, TJMaxx. You can also look at retailers who offer a unique retail experience, such as StitchFix, Shopbop, Zappo’s and Tuckernuck. The Challenge Ahead. Guests want to be able to find something new and exciting, they want value, they want an experience, they want it in-stock and they want a convenient checkout. As a softlines ETL, how do you create an amazing in-store experience for our guests that focuses on visual merchandising, style, localization and guest experience? How will your strategy complement the digital experience and result in increased trip frequency, basket size and topline sales? Suggested Topics • • • • • • • • How do you make shopping at Target an experience vs. just a trip for necessities? How will you use various digital platforms to bring your strategy to life? How do you broaden team member knowledge of online capabilities to capture additional sales? How do you train and empower teams to be business owners and use visual merchandising to improve shopability, sightlines and showcase relevant fashion trends? External competition – who do you believe is the biggest threat to the apparel and accessory market share? What product categories should Target prioritize? What gaps does Target have in its product assortment? What are the risks associated with your strategy? Frequently Asked Questions. • What is a softlines ETL? There are several ETL (assistant managers) roles at Target, these include: o ETL Salesfloor/Guest Experience – primarily responsible for salesfloor operations and guest experience o ETL Softlines – primarily responsible for softlines or Apparel and Accessories o ETL Hardlines – primarily responsible for grocery, toys, electronics o ETL Logistics – primarily responsible for truck unloading and all replenishment o ETL Human Resources – primarily responsible for hiring, retention, training and cu
lture 3 o ETL Assets Protection – primarily responsible for rescuing shortage and safety culture • What are instocks? Instocks are essentially having a full presentation on the sales floor. • What is value signing? Value signing is presenting a great deal to the guest. This can be a single price point or signing to advertise a great value such as sale items, price cut items or featured items that are presented in our weekly circular. Interested in learning about what it’s like to work at Target? Read the latest Team Member stories at http://pulse.target.com or visit www.Target.com/careers to view current openings. 4