Instead introducing a big box store, Target is experimenting with TargetExpress, a much more condensed and highly curated version of its full-sized stores. The first TargetExpress of its kind went up in downtown Minneapolis' Dinkytown, consisting of just 20,000 square feet for electronics, food, clothing, cosmetics and a pharmacy.
Due to the proximity of the store to Minneapolis University, this particular TargetExpress has strong ties to the community, featuring graphic signage designed by a local university grad and a section full of school memorabilia. Despite its small size, the store has a decently sized Market, full of fresh produce, meat, deli, dairy as well as grab and go items for lunch and dinner to appeal to the ever-busy university student.
Condensed Retail Shops
TargetExpress Retail Shops Are Super Small Versions of Its Locations
Trend Themes
1. Condensed Retail Shops - Smaller, curated versions of full-sized stores offer convenience and targeted product selection.
2. Community-centric Retail - Retail locations tailored to the needs and preferences of the local community foster stronger connections with customers.
3. Micro-marketplaces - Compact stores, focused on specific offerings, provide a convenient shopping experience for busy customers.
Industry Implications
1. Retail - Traditional retailers can explore the concept of condensed shops to optimize their offerings and meet evolving consumer demands.
2. Food and Grocery - Micro-marketplaces with fresh produce, deli items, and grab-and-go options offer a compact alternative to larger grocery stores, catering to busy consumers.
3. Pharmacy and Healthcare - Compact retail locations with pharmacy services provide convenience for customers needing prescriptions and over-the-counter medications.