Target — in distress just five years ago — has morphed into a model for how to avoid the retail apocalypse.
Yes, Target. The cheap-chic retailer — in distress just five years ago — has morphed into a model for how to avoid the retail apocalypse.
Although that may be a bit of a stretch, it does show that Target’s playbook has some fundamental lessons for retailers in the age of Amazon. But Target is the best example of pulling off what consultant Toopan Bagchi, a former Target executive now with the Navio Group, calls “transforming while they perform.” This means getting the basics right while successfully preparing for an uncertain future.It’s turning its stores into destinations. Target has remodeled almost 300 locations this year alone and will renovate more than 1,000 by the end of 2020.
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