Discount retailer Target's 'Smartly' is a newly launched brand that gives consumers access to a wide range of beautifully designed, budget-friendly home essentials and personal care products, most of which are priced at less than $2. Target describes that "Smartly products cost approximately 70% less than similar products from national brands."
The range of items available through Smartly includes more than 70 everyday staples, including everything from body lotions and paper plates to razor blades.
When it comes to buying everyday products and saving money, consumers are often forced to make purchases in large quantities but Smartly acknowledges that not all consumers have the luxury of extra space to store bulk goods—as such, the low-cost products are sold as singles and in small multi-packs.
Low-Cost Essential Brands
Target's 'Smartly' Sells a Wide Range of Goods for Under $2
Trend Themes
1. Low-cost Branding - Opportunities for new brands to enter the market with low-cost offerings and establish themselves as value leaders.
2. Budget-friendly Goods - Increasing demand for products that provide quality and affordability, encouraging companies to prioritize cost savings in production and supply chain management.
3. Single-serving Purchasing - Shift towards serving the needs of people living in smaller spaces or having a preference for smaller quantities, providing opportunities for companies to create products and packaging that cater to these needs.
Industry Implications
1. Retail - Low-cost retail brands, like Smartly, can disrupt the retail industry by providing budget-friendly essentials that appeal to cost-conscious consumers.
2. Personal Care - The availability of budget-friendly personal care products from Smartly presents an opportunity for new entrants to the personal care market to establish themselves as low-cost providers and appeal to price-sensitive buyers.
3. Packaging - Low-cost and single-serving products require innovative packaging solutions, giving rise to opportunities for companies to create sustainable and affordable packaging options to meet market demand.