Target aims for over $15 billion in sales growth by 2030 through strategic investments

At its financial community meeting today,
Target Corp. (TGT) announced its plans to achieve more than $15
billion in sales growth by 2030 through ongoing investments in its
multi-channel business.

The strategic plans include expanding on-trend and affordable
assortments, reinforcing Target as a discovery destination by
blending physical, digital, and social commerce, and investing in
supply chain and fulfillment capabilities to enhance ease,
reliability, and speed. The company also aims to reward guests
through Target Circle benefits.

Target plans to dramatically expand the size of its Target Plus
marketplace. It aims to grow those third-party digital sales from
approximately $1 billion in 2024 to more than $5 billion in 2030,
adding hundreds of new brands like Peloton, Daily Harvest and Honest
Baby Clothing to attract guests and expand offerings. It also plans
to double the size of its in-house media company Roundel by 2030,
which drove more than $2 billion in value last year.

Target plans to offer more newness, quality, and relevance across its
product assortment. This includes launching new series and
collaborations, such as Good & Gather Collabs with celebrated chefs,
expanding brand partnerships with companies like Champion and Disney,
and reducing lead times in apparel to quickly add new styles.
Additionally, Target will introduce over 45 new beauty brands and
2,000 new items.

Target continues to invest significantly to enhance the digital
experience and redefine omnichannel shopping by further blending its
one-of-a-kind social, digital, and in-store experiences. Future plans
include enhancing search, social, and AI-driven personalization for
better product recommendations.

The retailer will also invest across its stores and supply chain
network to reach more consumers and get products to them faster,
while rewarding guests for choosing Target. Plans include opening 20
new stores in 2025 and remodeling many more, modernizing inventory
management with AI-powered technology, and implementing new package
delivery solutions to improve delivery speed.

Target aims to triple the Target Circle 360 membership base over the
next three years by introducing new perks and partnerships, such as
with Marriott Bonvoy. The retailer also plans to enhance same-day
services for faster and more convenient shopping experiences.