Target Corporation ( TGT Quick Quote TGT - Free Report) is always striving to build on its partnerships, especially with popular and high profile brands. Well, the retail giant is taking its long-drawn relationship with Apple Inc. ( AAPL Quick Quote AAPL - Free Report) to the next level. The company is doubling Apple’s footprint across select stores and online. The move is expected to help strengthen Target’s electronics offerings. Expanding Tie up with Apple Looks Prudent
Target is one of the most sought after shopping destinations, thanks to its huge range of assortments and dynamic presence in the retail space. Expanding Apple’s footprint at Target will help the brand to further expand customer reach and build on its already expansive retail presence. Also, Target is expected to gain from Apple’s vast popularity amongst customers and enhance its competencies as a go-to destination for electronic products.
Target takes pride on its 15-year long standing relationship with Apple. The latest move to expand this collaboration will help combine Apple’s latest offerings with Target’s convenient shopping experience and fulfillment services. This "shop-in-shop" concept will be put in place across select Target stores and online. The expanded offerings will make its debut online and will begin rolling out at select stores this month. The company issued details regarding the location of 17 stores across different regions, where such services will be offered. Additional locations are scheduled to roll out the services by the end of fall. Special tech consultants, trained by Apple, will be allocated across locations. The dedicated space will display iPhone, iPad, Apple Watch, AirPods, HomePod, Apple TV and other Apple accessories. Across online platforms, Target’s customers will be able to enjoy a dedicated Apple experience, with extended offerings. Moreover, customers can avail Target’s offers and services both online and in stores. This includes a 5% discount on Apple products upon using the Target RedCard as well as the company’s convenient pickup and delivery services that includes Drive Up, Order Pickup and same-day delivery with Shipt. We note that Target has been quite successful at building on its strategic relations with its partners such as Ulta Beauty Inc. ( ULTA Quick Quote ULTA - Free Report) , The Walt Disney Company ( DIS Quick Quote DIS - Free Report) and Levi Strauss & Co. ( LEVI Quick Quote LEVI - Free Report) amongst others. Wrapping Up
Being a popular shopping destination, Target mostly features affordable brands preferred by average spenders. Nevertheless, it has always tried to provide special upscale experience for shoppers who prefer high-end brands as well. Market experts believe that the company’s expanded collaboration with Apple upholds such a notion. Moreover, a dedicated space for Apple products will help Target stores to emulate the ambiance of Apple’s own stores.
Clearly, Target’s efforts exemplify that it is committed toward enhancing customers’ shopping experience. The company’s well-chalked assortments, refurbished stores and growing digital capacity steered by an effective workforce are likely to keep it in good shape in the forthcoming periods. Markedly, this Zacks Rank #2 (Buy) stock has gained 23.1% in the past three months compared with the industry’s 12.5% growth. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Just Released: Zacks’ 7 Best Stocks for Today
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