Minneapolis-based retail chain Target has opened up its first small-format flagship in New York City's Tribeca neighborhood. The 45,000-square-foot location will open some time in late 2016 and is part of the brand's urban store concepts that were previously referred to as City Targets and later, Target Express.
The new Tribeca location will feature a CVS Pharmacy and a Chobani cafe, while Chobani's CPG products will also be available for purchase in the store's grocery section. In addition to its partnership with Chobani, the Tribeca small-format flagship will also include a dedicated space for Beautycounter, a California-based skincare brand. The Chobani cafe will offer a menu of sandwiches, soups, coffee and desserts in addition to its yogurt treats.
Experimental Small-Format Flagships
Target Has Opened Its First Small-Format Urban Stores in NYC
Trend Themes
1. Small-format Flagships - Opportunity for brands to create small-format stores to cater to urban markets.
2. Brand Partnerships - Opportunity for brands to collaborate and enhance in-store experience through exclusive partnerships.
3. Dedicated In-store Spaces - Opportunity for brands to create a unique shopping experience by having dedicated in-store spaces for their products or services.
Industry Implications
1. Retail - Retailers can explore small-format stores to cater to urban markets and collaborate with other brands to enhance the in-store experience.
2. Food and Beverage - Brands can partner with retailers to create in-store cafes and menus featuring their products to increase sales and brand awareness.
3. Skincare - Skincare brands can explore dedicated in-store spaces to showcase their products and provide a unique shopping experience for customers.