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Target's International Expansion To Panama Essay

3053 words - 13 pages

Target Corporation is among one of the largest retailers in US with its headquarter located in Minneapolis, Minnesota. The company is recognized within the top 500 most valuable brands as of 2012 as well as the top 25 retail brands in 2012 (Target Corporation SWOT Analysis, 2013). Target took birth on May1, 1962 as a “new idea in discount stores”. Gregg W. Steinhafel is the current chairman, president and CEO of Target (www.corporate.target.com). The company has a vast product offerings such as- household essentials, including pharmacy, beauty, personal care, baby care, cleaning, and paper products; hardlines comprising music, movies, books, computer software, sporting goods, and toys, as well as electronics that consist of video game hardware and software; apparel and accessories, such as apparel for women, men, boys, girls, toddlers, infants, and newborns, as well as intimate apparel, jewelry, accessories, and shoes. It also provides food and pet supplies, including dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, produce, and pet supplies; and home furnishings and décor, such as furniture, lighting, kitchenware, small appliances, home décor, bed and bath, home improvement, automotive, and seasonal merchandise comprising patio furniture and holiday décor (www.finance.yahoo.com). It has 1,921 stores with an approximated labor force of 361,000 fulltime and part-time employees. Target reported revenue for 2012 was $73,301 million with a 6.1% increase in total sales (www.investor.target.com). Targets global expansion limits to India and Canada for now with 37 distribution centers. It is also aggressively penetrating the online market via offering its products and services on the official website. (www.pressroom.target.com).
Target’s 2012 annual report reflects their analysis of the external factors that are carefully accounted for a better performance. These factors have variation of risky elements that could impede their credibility and additive edge over the competition. There key focus goes to maintaining the differentiation from the competitor to retain the value added prospective and consumer loyalty. Maintaining the standards of the brands they carry is very important, along with the availability of fully functional cyber shopping incentives. Secondly, their success depends on the positive image they portray. A hit to its reputation can cause legal issues, effect its developmental opportunities and possibly loss of sales. Proceeding, is a high interest in maintaining the reliable multichannel experience they offer to the their guest through its operations. In contrast to that it is essential to be responsive to changing consumer preferences or the profitability may suffer. Moving on is an issue they currently faced but exerts its attention on sustaining the growing workforce and affording the labor cost for successful operations. One of the vital approaches of growing is by expanding its locations in small...

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