Target unveils bold $15 billion growth plan through 2030

MINNEAPOLIS – Target Corporation announced an ambitious plan today at its financial community meeting to drive more than $15 billion in profitable sales growth by 2030. The strategy focuses on accelerating digital capabilities, enhancing the shopping experience, and reinforcing Target’s position as a premier retail destination.

The company’s roadmap includes:

Expanding its stylish and affordable product assortment with new, on-trend offerings.
Blending physical, digital, and social commerce to create a seamless shopping experience.
Investing in supply chain and fulfillment to boost speed, reliability, and customer rewards.

“Shoppers continue to seek differentiated options and distinctive shopping experiences without sacrificing value, and Target has the scale, strategy, and capabilities to support all the ways consumers shop and engage with brands,” said Brian Cornell, Chair and CEO of Target. “With gains in consumer traffic, continuing improvements in speed and reliability, and accelerating growth across digital capabilities, we are doubling down on initiatives that scale these capabilities and drive meaningful top-line and bottom-line growth.”

Target plans to elevate its product assortment with innovations and strategic partnerships, including:

Reimagining key categories: A multi-year transformation of gaming, sports, and toys, along with a refresh of home brands like Hearth & Hand with Magnolia and Threshold designed with Studio McGee.
Owned brand innovation: Launching a new series of Good & Gather Collabs with celebrity chefs, starting March 9 with James Beard Award-winner Ann Kim, along with expanding its up&up essentials line.
New partnerships: Expanding brand collaborations with Champion, Disney, and shop-in-shop experiences with Warby Parker.
Enhanced apparel speed: Streamlining product design and production to introduce new styles faster, focusing on growing lines like All in Motion activewear.
Beauty expansion: Introducing over 45 new beauty brands and 2,000 products, 90% of which are priced under $20.

Target is redefining retail by blending digital, social, and in-store shopping:

AI-powered shopping tools: Enhancing product recommendations, optimizing search, and integrating social media trends.
Expanding Target Plus marketplace: Growing third-party digital sales from $1 billion in 2024 to $5 billion in 2030, adding brands like Peloton and Daily Harvest.
Boosting Roundel’s digital ad business: Doubling the size of its in-house media company by 2030 to strengthen vendor partnerships and drive personalized consumer engagement.

Target will invest in its stores and supply chain to improve access, delivery speed, and customer benefits:

New stores and remodels: Opening 20 new stores in 2025, focusing on large formats while remodeling locations to optimize shopping and fulfillment operations.
AI-driven supply chain: Modernizing inventory management for better accuracy, reduced stockouts, and new delivery solutions using Target’s Shipt network.
Target Circle growth: Triple Target Circle 360 membership over three years, with new perks like a Marriott Bonvoy partnership.
Same-Day services expansion: Enhancing awareness and ease of Same-Day Delivery and Drive Up services to improve customer convenience.

For updates on Target’s strategic initiatives, visit corporate.target.com.