Target Announces $15 Billion Growth Plan by 2030 Amid Challenges

The retailer outlines a strategy to expand its online marketplace, revamp stores, and improve product offerings while addressing declining sales and competitive pressures.

Target plans to grow its third-party marketplace, aiming to increase digital sales from $1 billion in 2024 to $5 billion by 2030 with a curated, invitation-only approach to vendors.
The company will invest $4 to $5 billion annually in modernizing its supply chain, enhancing delivery speeds, and reducing out-of-stock issues using AI-powered solutions.
Target aims to revamp its product offerings, including 600 new food and beverage items, expanded gaming and toy assortments, and quicker response times to trends in apparel design.
Competition from Walmart, which has captured market share with its grocery focus and low-price strategy, continues to challenge Target's reliance on discretionary spending categories.
Cultural and political controversies, including shifts in diversity initiatives and product offerings, have impacted Target's brand perception, causing customer dissatisfaction on both sides of the spectrum.