Target Swot Analysis Essay

Throughout the years, Target has developed into its present position as the sixth biggest retailer in the United States by setting out to be different from its competitors. The company has built its reputation by linking a number of the best retail store factors such as fashion, quality, and service with the low costs of a discounter. Prior to the end of Target’s preliminary year, the company opened 4 more stores outside of the first in Minnesota and by 1990 over 50 Target stores were opened. In 1995, the company decided to branch out and offer grocery items outside of its general merchandises which they called SuperTarget. “[that same year the company also] introduced the Target Guest Card, the first store credit card in the discount retail industry. By 1998 the Guest Card had attracted nine million accounts (Gale Business
During the fiscal 2002 Target had its presence from coast to coast minus Vermont and profits reached $43.9 billion. Furthermore, Target introduced multiple additions to their company, such as, the in-store dollar section, Choxie gourmet chocolates, C9 by Champion line of performance athletic wear as well as “the SuperTarget tagline "Eat Well. Pay Less.®" This is our promise to provide a great selection of unique, affordable grocery items as a complement to the hip and fashionable low-priced merchandise for which Target is known (Target Through The Years).” As previously mentioned, Target is known for its innovation and it maintains that by providing a wide variety of products. This is a great aspect of the company because a wide variety of products is used to attract customers looking for an array of merchandises as well as increase the company’s value. Which is why by 2007, revenues had reached $63.4 billion, while net earnings were a record of $2.85