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City Target Presentation
- 1. B ULLS EYE S OLUTIONS P RESENTS : C ITY TARGET Katie Geiger│ Rachel Weiss │Samantha Tranfa │ Evelyn Ramirez │ Michael Abney
- 2. C ITY TARGET I SSUES Urban Trends Congestion of urban store Urban consumer mentality Availability of Space Shelf Space Floor Size
- 3. S USTAINABLE C OMPETITIVE A DVANTAGE Shopping Atmosphere Trendiness Clothes Other Products
- 4. S TRATEGY │C ITY TARGET D EPARTMENTS Implement: Department/Product Category Clothing Food Pet Supplies Home Goods Small electronics Toy Department Arts & Crafts Skin Care/Makeup Implementation Details Maintain trendy clothing lines Scale down; focus on items that can be used for quick meals/snacks Limited selection Eliminate storage items & shelving units Including electronic accessories Limited to small scale items Limited Selection with a focus on office supplies Maintain current selection
- 5. S TRATEGY │C ITY TARGET D EPARTMENTS Eliminate: Elimination Department/Product Reasoning Category Amenities such as: Not directly correlated to the root The Pharmacy of Target’s brand Optical Center Starbucks Store Large electronics Not cohesive with target customers Gardening lifestyle Furniture: Home Furniture, Patio Furniture, Shelving Units Storage Units
- 6. S TRATEGY │TARGET TO -G O What is the Program Online Service/Phone App to order groceries off site $9.99 a month Gather Groceries from In-Store Pick-Up Window
- 7. S TRATEGY │TARGET TO GO How Does it Work Reserved Scheduling from 4:00pm8:00pm Target Personal Shoppers $15.00 Minimum Order Strategic Placement
- 8. O PERATING I NCOME
- 9. F INANCIAL B REAKDOWN TARGET-TO - GO P ROGRAM
- 10. F INANCIAL B ENEFITS TARGET-TO - GO P ROGRAM Effect on Operating Income $4,500,000 $4,350,000 $4,200,000 $4,050,000 $3,900,000 $3,750,000 $3,600,000 2012 2013 Operating Income 2014 2015 Income from Target-to-go 2016
- 11. VALUATION $400,000.00 $355,055.9 7 $305,055.9 7 $300,000.00 $200,000.00 $100,000.00 $0.00 PV of cash flows ($100,000.00) Less costs $(50,000) NPV
- 12. PAYBACK P ERIOD 0 1 (50,00 60,47 0) 1 2 3 4 5 86,81 5 96,96 7 138,0 61 183,0 55
- 13. R ETURN ON I NVESTMENT OVER THE Y EARS 300% 266% 250% ROI 200% 176% 150% 94% 100% 50% 74% 21% 0% 2012 2013 2014 2015 2016
- 14. PHASES Phase 1 Phase 2 Phase 3 Phase 4 • Preliminary Marketing Tactics (Ex. Email blasts to build anticipation) • Tech Design • Layout Design • Marketing Development :Release of External Advertising & Promotional Material • Interior Development • Employee Training • Utilize Marketing Strategies: Release Internal Promotional Material (In-Store Signs, Brochures) • Implementation of Target To-Go program • Evaluation • Amendment (if needed)
- 15. FALL- OUT Low guest response Higher than expected turnout Poor customer service Allergies Application failure and technological glitches Poor inventory tracking
- 16. C ONCLUSION Reduce In-Store Foot Traffic Reduce Stocking Time Pertains to Target's SCA Utilizes urban shopping trends
Editor's Notes
- Rework slide to transition into program.
- Evelyn. Talk about opportunity of food and wanting to keep the target feel. SWOTSize and Strong Brand ImageDecreased Customer Discretionary SpendingFood
- essentially taking part in a form of “curbside” grocery service
- Reserved Scheduling: set to handle 10 customers every 30 mins—with all orders in by 1:00 pm on the day they will be picked up Target Personal Shoppers: Gather items from Backroom Inventory-reduce shocking time Hours: meet the needs of customers coming home from work
- Changing
- katie
- Evelyn
- Michael