The air is getting thin in the retail grocery space, and companies are beginning to feel the squeeze. When Amazon announced their acquisition of Whole Foods, we witnessed a $12 Billion dollar market cap wipeout.
So what’s a company to do?
Target thinks they have the answer, and it’s #oldschool. Target is doubling down on the user experience of their brick and mortar stores.
“We’re making Target America’s easiest place to shop,” – Target CEO Brian Cornell
Personally, I love this. Target is doubling down in a white space they can beat Amazon at, and that is the affinity someone has with physically shopping in their store. What makes this really stand out to me is the commitment to the premise that people make the difference. With their promise to increase their minimum wage to $15 by 2020, they are putting their money where their mouth is. The best investment you can make is into the human capital your company has.
Another interesting bit is Target’s acquisition strategy. Late last year it acquired Shipt, a delivery service expected to allow for same-day delivery. This is another great move, as they are extending their service to truly become the most accessible shopping experience for their consumers.