Wal-Mart has started new smaller stores, and now we have Target going down the same path for urban markets.
Target will open a new format in Seattle in 2012. It has plans to take this new format to 10 other markets such as San Francisco, and Baltimore in the next couple of years.
New Urban format is larger than the Wal-Mart re sized store. Still 60,000 to 100,000 square feet, vs. the current store size which run 125,000 to 180,000 square feet.
They claim not to be a cookie cutter retailer, but have been most known for creating the racetrack , square format, that is the same in every Target store.
The new format and it's smaller size will be more focused on daily essentials.
Target also announced it would begin selling the Apple Ipad beginning Oct. 3rd.
As the big go small they come closer to more customers, still years in the making, but they are moving in.
JZ
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