targetpresentation
TRANSCRIPT
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Introductions
Target in a Nutshell
Current Target SWOT
The Other Guys
My Pantry & Cartwheel 2.0
Post My Pantry SWOT
Next Steps
OVERVIEW
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WHO ARE WE?A PRETTY SWEET BUNCH
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Hometown: Chesterfield, MO
Marketing Major
Senior (WOOO!)
Target Addiction: Café Pretzels
EMILY KROKSTROM
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Hometown: Kuala Lumpur, Malaysia
Marketing Major
Senior
Target Addiction: Dollar Spot
AMALINA ZAINAL
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Hometown: St. Louis, MO
Marketing Major
Senior
Target Addiction: Socks!
KYLE FURLONG
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Hometown: Moberly, MO
Marketing Major
Senior
Target Addiction: Athletic Apparel
KELSEY BOARDSEN
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Hometown: Washington, MO
Marketing Major
Senior
Target Addiction: Mossimo
NICK EATON
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TARGETIN A NUTSHELL
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1795 Stores in the United States
38 Distribution Centers
347,000 Team Members
5th Most Visited Retail Site with 51 Million Visitors per Month
TARGET FACTS
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“How can Target use E-Commerce and
their mobile platform as effective cross-
channel marketing tools to drive sales
and profitability at their in-store brick
and mortar locations?”
PROJECT ANALYSIS
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November to January Online SalesIncrease of 36%
Fueled by Holiday Free Shipping
Time Spent Browsing/Shopping on MobileRose 251% in March
Nearly 100,00,000 Hours
Same-Store Sales in the U.S.Grew 3.8% in 4th Quarter
Higher Store Traffic
Higher Online Sales
SUPPORTING DATA
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Groceries as Low-Margin Profit DriverWalmart generated $267 billion (56% of Profits)
85% of Grocery Shoppers Visit 2x Per Week
42% of Shoppers Visit More Than 2x Per Week
Cartwheel and the Target App76% of Mobile Shopping/Browsing Time
That’s 76,000,000 Hours on Target Apps
Cartwheel UsersSpend 30% More Per Trip
Visit More Often
SUPPORTING DATA
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STRENGTHS WEAKNESSES
• High Brand Recognition
• Strong Online Presence
• Wide Variety & High Quality
Products
• Excellent Customer Service
• Limited Awareness Outside of U.S.
• Bad Lingering Effect of Credit Card
Scandal
• Fewer Locations Than Competitors
(Walmart)
SWOT
OPPORTUNITIES THREATS
• Expanding Stores Internationally
• Engaging Online Customers to
Drive In-Store Sales
• Improving Shipping Services
• Walmart
• Online Retailers
• Retailers Who Provide Free
Shipping
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THE OTHER
GUYS
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COMPETITIVE ANALYSIS
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Strong Retail Brand
Values Money for Customer
Low Prices
Target’s Biggest Competitor
WALMART
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Family Owned Grocery CompanyHeadquartered in St. Louis, MO
100 Supermarkets in:Missouri
Illinois
Indiana
Iowa
Wisconsin
Sales of $2.6 Billion
Schnucks CooksRecipes
How-To Videos
Cooking Classes
Magazine
SCHNUCKS
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Online Retailer
14 Million Mobile-Only Visitors in USAge 25-34
AmazonFreshTest Market
Potential Threat
Subscription ServiceOffers Discount
Scheduled Monthly Orders
No Fresh Produce Online
AMAZON
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Popular Brands at Low Prices
Dollar General Nation’s Largest Discount Retailer
Increased Emphasis on Grocery
DOLLAR STORES
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MY PANTRY
& CARTWHEEL 2.0
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Improve Grocery Sales
From 21% of Sales ($15 Billion) to 25%
Improve Target House Brand Grocery Sales
By 3% Compared to Non-House Brands
More attention to Existing Target Recipes Page
Partnership with Cooking.com
Gain 1 million New Users to Cartwheel
OBJECTIVES
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Millennials
Age 21-30
Health-Conscious
Young Professionals
Career-Oriented
Busy
Tech Savvy
Urban & Suburban Areas
Lower-Middle Income
TARGET MARKET
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Newly Employed with Entry-Level Job
Lives with a Roommate in
an Apartment or Small Home
Interests Include:
Being Outdoors
Spending Time with Friends
Online Shopping
Travel
Yoga
Prepares Dinners at Home &
Packs Lunches for Work
MEET CHLOE
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TARGET RECIPES
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CARTWHEEL
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MY PANTRY TAB
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MY PANTRY TAB
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Provide Recipe Cards in Grocery
Encourage House Brand Purchases
Advertise Cartwheel Offers on Shelves
Provide Related Info on Shelf Tags
Scan with Cartwheel for Recipe Ideas
IN STORE
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Recipes for Grocery Section
Coordinate with Promotions
Scan with Cartwheel for Recipe
WEEKLY ADS
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POST MY PANTRY SWOT
STRENGTHS WEAKNESSES
• Increased Target Recipe Awareness
• Increased In-Store Foot Traffic
• Increased Average Basket Size
• Added Awareness of Cartwheel
• Focus on Risky Target Market
• Focus on Low Profit Margin Dept
• Grocery Weaker Than Competition
• Increased Spending on Developers
OPPORTUNITIES THREATS
• Engaging New Target Market
• Potential Increased Sales for Other
Product Categories
• Increase in Grocery Profits
• Possible Decreased Sales in Other
Product Categories
• Competitor Recipe Strategies
• Food Expert Criticisms
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1. Begin Development of My Pantry Tab
2. Run Focus Groups to Increase Usability
3. Develop Multi-Channel Marketing Campaign
4. Release Cartwheel 2.0 in App Store
5. Make Millions. No. Billions.
NEXT STEPS
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http://pressroom.target.com/corporate
http://www.statista.com/statistics/271450/monthly-unique-visitors-to-us-retail-websites/
http://www.startribune.com/business/294015961.html
http://seekingalpha.com/article/2297975-targets-traffic-issues
http://fortune.com/2014/06/05/target-cartwheel/
http://www.statista.com/topics/846/amazon/
http://www.mobilecommercedaily.com/targets-cartwheel-on-a-roll-with-7m-plus-users-new-features
http://www.wsj.com/articles/target-revamps-groceries-for-millennials-1425350121
http://www.target.com/r/recipes?ref=sr_shorturl_recipes
WORKS CITED
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