📈 Target Expands Marketplace with Shopify
Target announced a partnership with Shopify on June 25, 2024, to enhance its third-party marketplace, Target Plus. This collaboration aims to onboard popular Shopify merchants, such as Caden Lane and True Classic, onto Target's digital platform and potentially into its physical stores. According to a press release, Shopify merchants can apply to sell via the Target Plus marketplace using the Marketplace Connect app.
📊 Target Plus Growth
Since its launch in 2019, Target Plus has attracted major brands like Crocs, Ruggable, and Timberland. Target’s Chief Digital and Product Officer, Prat Vemana, stated that the focus is on offering high-quality, properly-sourced products rather than just high-demand items. In the past year, the marketplace has more than doubled its number of brands and products, providing shoppers with a wide variety of options without the need for Target to store all the inventory.
🛒 Shopper Benefits
The Target Plus marketplace allows customers to enjoy regular Target perks such as free shipping on orders over $35 and discounts for Target Circle Cardholders. Cara Sylvester, Target’s Chief Guest Experience Officer, emphasized that the partnership with Shopify extends the range of thoughtfully designed and affordable items available to Target shoppers, enhancing the mix of brands they already love.
📈 Strategic Move for Growth
For Shopify merchants, this partnership offers a chance to reach millions of new customers and grow their businesses, said Harley Finkelstein, President of Shopify. As Target’s top-line sales stall, the retailer is keen to boost its online presence. Despite a 3.2% year-over-year dip in sales to $24.1 billion in Q1, Target CEO Brian Cornell reported an increase in online sales, attributed to drive-up, in-store pickup, and same-day delivery services.
How will Target's partnership with Shopify impact online shopping?
