Saturday, January 10, 2009

I heart Target: History of Target

Well folks, I am officially done with my after Christmas shopping from Target! I have spent maybe $300 on some of the nicest pieces that you will ever see. This is why I love Target. You can get so much bang for your buck. Target prides itself on providing upscale product for low scale pricing. And while some of the pricing may seem a little exorbitant at first, you have to remain patient. Target is one of few stores that slashes prices on their products down to 90% off. This means Target is really making some cheese! Lol.

I have decided to dedicate this story to the history of my most favorite store in the world. You would be surprised at some of the history. Read below and let me know what you think!

With its familiar red bull’s eye logo, Target Stores have become the United States' second-largest discount chain behind giant Wal-Mart. Target offers merchandise and brand names that are aimed at a more upscale shopper than Wal-Mart. With strong growth from expansion, Target reported $46.839 billion in sales and earnings of $3.198 billion in 2004. At the beginning of the year, the company operated 1,172 regular Target stores and 136 Super Target stores that include a supermarket as well. Target has stores in 47 states. Target is not playing with yhall. Here’s how it all started!

Target Background and History

Target is a chain of discount department stores that are about 95,000 to 135,000 square feet and was founded by Douglas J. Dayton and John Geisse. The first Target store "T-1" opened on May 1, 1962 in Roseville, Minnesota. That store was closed and demolished on January 8, 2005, to make room for a Super Target, which opened on October 9 of the same year. The name "Target" originated from Dayton's publicity director, Stewart K. Widdess, and was intended to prevent consumers from associating the new discount store chain with the department store. In 1968, Target changed its bull’s eye logo to a more modern look, and expanded into St. Louis, Missouri, with two new units.

Target carries hardlines ("regular" products and goods), softlines (clothing), and a limited amount of groceries, mostly non-perishable. Specifically, Target stores carry clothing, shoes, jewelry, health and beauty products, electronics, compact discs, DVDs, bedding, kitchen supplies, sporting goods, toys, pet supplies, automotive supplies, hardware supplies, and food. They also carry seasonal merchandise such as patio furniture during the summer and Christmas decorations during November and December. (These items go from 50% to 75% to 90% off fairly quickly, so always hunt for these sales when you go!)

Target has many exclusive deals with various designers and name-brands, including Michael Graves, Mossimo Giannulli, Fiorucci, Liz Lange, and Converse among others. To further increase their fashion profile, Target also created its fashion-forward Go International line, which hires famous designers to design collections available only for a few months. Many stores may also have one-hour photo processing, a portrait studio, an optical store, a pharmacy, and a garden center. Stores opened or re-modeled in 2004 or later also include the expanded snack bar that is featured in Target Greatland locations. These generally include a Starbucks Coffee shop, a Pizza Hut Express, and a Taco Bell Express in addition to Target's "Food Avenue". It has also been reported that Cold Stone Creamery and Target have signed a deal to test in-store ice cream shops in four stores. In 2008, Target has begun to use the name "Target Cafe" in place of "Food Avenue".

As we fast forward to 2009, Target now consists of 1,591 stores (as of October 2007)It has units in all states except for Hawaii and Vermont, operating under the mastheads of Target, Target Greatland, and SuperTarget. Target Corporation has aggressive plans to have 2,000 stores open by the year 2010, including expanding to Hawaii.

Super Targets are pretty exciting too. The first SuperTarget opened in Omaha, Nebraska in 1995, and the second SuperTarget opened in Lawrence, Kansas, later that same year.As of October 2007. Target operated 210 SuperTarget stores in 22 U.S. states; the majority of those are in Texas and Florida, with sizable numbers in Minnesota and Colorado.

Target also pride themselves on having “Urban Stores”. These stores are often found in the heart of busy cities and are unique in achitecture and location. Vertical transportation is provided in the store by escalator, elevator, or Vermaport, a specialized escalator for carts. Target has used their uTrban store concept to open multiple story stores in city centers such as in Brooklyn, New York City, Miami, Glendale, Los Angeles, Chicago, Pasadena, California, San Diego, Washington, D.C., and Minneapolis.

I think what I love about Target is the feel of the store! It feels upscale, but you don’t feel like you’re giving your soul to have it. Lol. You get fashion forward clothes, top of the line merchandise, and an upscale atmosphere all for the low. Maaaaaan, you can’t beat that! Lol. Target has done a wonderful job at rising above its country cousins, Wal-Mart and K-Mart. People even joke about Target calling it “Tar-geee”, like it is an upscale French boutique! Here’s a little background on that: The pseudo-French pronunciation has incorrectly been believed to have been started by Oprah Winfrey, when she used the French pronunciation to refer to the store on her television show; it has actually been traced back to 1962, the year the first Target store opened. This pronunciation has also led some people to incorrectly believe that the company is French-owned.

Target tends to attract younger and more educated and affluent customers than its competitors. Here are some stats: Currently, the median Target shopper is 41 years old, which is the youngest of all major discount retailers that Target competes directly against. The median household income of Target's customer base is roughly $63,000. Roughly 76% of Target customers are female, and more than 45% have children at home. About 80% have attended college and 48% have completed college. Ninety-seven percent of American consumers recognize the Target Bullseye logo.

So if you don’t get a blog from me, guess where I probably am… yep… TARGET! Lol

~Target keeps me Fly!

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