Target should focus on expanding its presence in the global market. Unlike its large-scale entry into Canada that proved disastrous, the company should use smaller stores that resemble TargetExpress and CityTarget locations. Such small but densely stocked stores would particularly be successful in rising economies such as India and China which are densely populated.
Refurbish the e-Commerce strategy
Due to the potential of e-Commerce, Target should focus on revamping its strategy. The company needs more than just a website; it should launch warehouses across the globe to ensure items ordered are shipped from local stores. Currently, all items ordered online are shipped from its distribution centers in the U.S.A, which results in import duties and high shipping costs.
Reimagine the Company’s Owned Brand Portfolio
Following the success the company has had with the current portfolio of exclusive brands, it should accelerate the introduction of more exclusive brands. It should also enter into more designer collaborations.