Target is focusing on technology.
The retailer has teamed up with startup Techstars to improve the shopper experience, according to Fortune
Most notably, Target is working on a “concept store” that will open within in one to two years. This store might include robots.
Hardware store chain Lowe’s has already been testing robots that can find and retrieve items.
“We know that technology will continue to revolutionise retail, and that Target’s future will be built on innovation,” Casey Carl, Target’s chief strategy and innovation officer, said in a press release.
Target is experiencing massive growth in its online sales, which rose 30% last quarter.
The company is also working to strengthen its e-commerce with retail developments such as a grocery delivery service and using inventory from stores to speed up online delivery.
Target’s previous tech systems have been lagging — creating inventory and infrastructure problems, including many out-of-stock orders and slow delivery service.
Executives say that pairing with Techstars will give Target the tools it needs to be educated in successful e-commerce.
Techstars is exclusive, accepting only 1% of applicants for for its program.
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