The beauty industry is growing by leaps and bounds, and Target Corp. (TGT - Analyst Report) intends to leave no stone unturned to capitalize on this booming market. This general merchandise and food discount stores operator extended its Beauty Concierge program to 95 outlets, covering the San Francisco Bay region, Dallas-Fort Worth, New Jersey and New York.
All stores adopting the program have hired a professionally trained Target Beauty Concierge. These professionals cater to customers’ beauty-related queries, providing them with relevant information regarding beauty care products available at the stores.
The program was initiated in Chicago last year, and has been extended to selective outlets in Los Angeles, Washington D.C., Baltimore and other outlets in Chicago. Due to this expansion, the program can now be accessed at 300 stores across the U.S., reflecting its success.
Of late, Target has been focusing on the beauty industry. This is evident from its acquisition of DermStore Beauty Group. DermStore, an online beauty retailer, is expected to strengthen Target’s footprint in this segment by enhancing its portfolio of offerings.
Going forward, this Zacks Rank #3 (Hold) stock intends to focus on its core businesses. The company plans to sustain its remodeling program at existing general merchandise locations by the addition of an expanded food section along with a greater assortment of dry dairy and frozen items, improved store layout and enhancement of in-store shopping experience across departments such as apparel, home, beauty, shoes and baby.
Moreover, Target had announced its year-round price matching policy with the aim of offering its patrons the facility to match the prices offered by online retail giants. The departmental retailer will match prices with Amazon.com Inc.’s (AMZN - Analyst Report) Amazon.com, Wal-Mart Stores Inc.’s (WMT - Analyst Report) Walmart.com, Best Buy Co. Inc.’s (BBY - Analyst Report) BestBuy.com, and Toysrus.com. Target believes that its price matching policy coupled with the REDcard reward program would provide it an edge over its competitors.