Plans to spend $5 billion! Target will invest in these areas in 2022!

It is learned that according to foreign media reports, Target recently announced that it will invest US$5 billion in 2022 to add physical stores, renovate existing stores, strengthen cooperation with brands and expand the logistics and distribution network.

Target reportedly plans to add 30 physical stores across the United States, including remote locations such as suburbs as well as city centers; it also plans to renovate 200 existing stores to optimize the in-store shopping experience; and it will also cooperate with more outstanding brands, such as opening 250 Ulta beauty stores.

In addition, Target will build five new distribution facilities in the spring of 2022, located in Dallas, Houston, Austin, Atlanta and Philadelphia, Texas.

It is reported that the purpose of Target's move is to continue to drive sales growth and improve competitiveness so that it can occupy an important position in the retail market and compete with Amazon, Walmart and others.

It is learned that in 2021, although Target faced severe challenges such as supply chain disruptions and rising freight costs, it still maintained growth. The total revenue for the year was US$106 billion, an increase of more than 35%, which is very optimistic.

Editor ✎ Nicole/

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