Target’s new goals in grocery
Target’s Food and Beverage President Stephanie Lundquist is targeting the retailer’s grocery segment for improvement, according to a recent story by Motley Fool, a multimedia financial services company. Lundquist believes the Minneapolis-based retailer’s new private label grocery line, Good & Gather, will help.
Motley Fool covered a talk by Lundquist at Groceryshop, which was held recently in Las Vegas. Lundquist, who began leading Target’s food and beverage division about two years ago, wants to make the retailer’s grocery department just as exciting as some of Target’s other segments, like apparel, with private brands helping to lead the way.
"In food, we were simply functional and transactional," Lundquist said at Grocery Shop, according to Motley Fool. "... Our goal in grocery is to be Target. We've been successful in other categories because Target is where our guests turn for the latest trends and the smartest solutions."
Good & Gather is on course to become the company's largest private label by product number: It launched with 650 products on Sept. 15 and will have more than 2,000 by the end of 2020. The assortment will also include new and trend-forward products such as avocado toast salad kits and beet hummus alongside everyday staples such as milk, eggs and cheese, according to the company.
Target is phasing out its other private brands in grocery, including Archer Farms and Simply Balanced. Target will also scale down the number of items it sells under its Market Pantry brand. The addition of Good & Gather to Target stores also means the company is increasing the amount of shelf space it devotes to private label products.
"We've accelerated our business over the last few years by becoming an easier and more convenient shopping option," Lundquist said at Groceryshop. "That's what's guiding us in food and beverage. We're part of the magic Target experience."
To read the Motley Fool article, click here.