Target's Affordable Homeware Brand Boasts Over 70 Items
Ellen Smith — November 5, 2018 — Business
References: corporate.target & retaildive
Target's affordable homeware brand is the newest addition to its retail portfolio, offering consumers home essentials for incredibly reasonable prices.
This line takes on a new business model to elicit a sense of youth and practicality. Serving up the basics, this line offers anything from dish soap to cotton swabs, forgoing fancy packaging and marketing efforts to offer a high-end product at an affordable price point. The line, which launched on October 14th, boasts an impressive catalog of over 70 items, ensuing that everyone's home needs are met without breaking the bank. According to Target, more items will be added to the line in 2019.
The entire line ranges from $0.59 to $11.99, with most products retailing close to $2.00 or less.
This line takes on a new business model to elicit a sense of youth and practicality. Serving up the basics, this line offers anything from dish soap to cotton swabs, forgoing fancy packaging and marketing efforts to offer a high-end product at an affordable price point. The line, which launched on October 14th, boasts an impressive catalog of over 70 items, ensuing that everyone's home needs are met without breaking the bank. According to Target, more items will be added to the line in 2019.
The entire line ranges from $0.59 to $11.99, with most products retailing close to $2.00 or less.
Trend Themes
1. Affordable Homeware - Disruptive innovation opportunity: Develop a line of high-quality yet affordable homeware products that offer practicality and value to consumers.
2. Unbranded Essentials - Disruptive innovation opportunity: Create a collection of unbranded home essential products that prioritize quality, simplicity, and affordability over branding and fancy packaging.
3. Value-focused Retail - Disruptive innovation opportunity: Establish a value-focused retail model that offers a wide range of essential products at affordable prices, attracting cost-conscious consumers.
Industry Implications
1. Retail - Disruptive innovation opportunity: Explore the retail industry with a focus on providing affordable home essential collections, targeting price-sensitive consumers.
2. Homeware - Disruptive innovation opportunity: Introduce disruptive products and brands in the homeware industry that offer high-quality, unbranded essentials at affordable prices, challenging traditional market players.
3. Consumer Goods - Disruptive innovation opportunity: Disrupt the consumer goods industry by creating a range of unbranded and affordable home essential collections that prioritize value and practicality over brand names and expensive marketing.
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