Target is expanding its offerings following the launch of its new home brand entitled 'Opalhouse.'
The vast collection features more than 1,300 products that range from bed, decor, furniture, kitchen and more. According to the brand, the design team behind this "eclectic" line traveled to the world's most stylish cities, including Paris and Lisbon. According to Target, this line includes more original artwork than any other subsection of the brand. Target says that its goal behind this launch is to "help bring [shoppers'] Pinterest-worthy home design dreams to life."
This move serves as one of the many department stores moving into the retailing of home goods, as brands like TJ Maxx and Nordstrom have recently launched a collection of premium home products.
Why This Trend Is Growing
- Home Retail Brands
- The trend of department stores launching home brands creates opportunities for disruptive innovation in the home retail industry
- Global Design Inspiration
- Brands can turn to global sources of design inspiration, like Target's Opalhouse design team, for disruptive innovation in the home industry
- Personalized Home Design
- There is an opportunity for home retail brands to use technology to offer personalized home design options to customers
Industries Being Reshaped
- Department Stores
- Department stores have the opportunity to launch their own home brands and compete with established home retail brands
- Home Furnishing Retailers
- Home furnishing retailers can differentiate themselves by offering unique and globally-inspired designs, like Target's Opalhouse collection
- Technology
- The home retail industry can partner with technology companies to create platforms for personalized home design and shopping experiences
