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Target Corp. is looking to open a new, smaller-format store in Seattle within two years.
“We’ve never been a cookie-cutter retailer, but we are increasingly realizing that one size doesn’t fit all,” said John Griffith, Target executive VP of property management. The retailer is already looking to expand the new concept into 10 other markets, including Baltimore and San Francisco, within the next few years.
The new store will be about 90,000 square feet, based on a new urban prototype store that will range from 60,000 to 100,000 square feet. A typical Target store is 125,000 to 180,000 square feet.
Target opened its first urban store in Chicago in 1994 and has since launched about 150 stores in cities with more than 100,000 people within a two-mile radius. In July, the retailer opened its first store in Manhattan.
The new format represents Target’s new approach to urban markets – according to Griffith, making the store fit the site, not the other way around, the Associated Press reported. The new prototype will offer a broad selection of merchandise but it will focus on daily essentials.
Company officials made the announcement Friday during a media conference at Target Field in Minneapolis, the AP reported. Officials said they’re counting on driving traffic this holiday season and beyond with two key initiatives: a 5 percent discount for its credit card holders and a heavier emphasis on food.