Target to Better Serve Customers Via New Loyalty Program
To enhance service to its customers, Target Corporation TGT is set to roll out a new loyalty program — Target Circle — nationwide on Oct 6, 2019. Courtesy of this program, customers can avail more convenient and customized shopping experience in the upcoming holiday season. The program also comes with a zero-membership fee.
The company has been testing the program for 18 months in Dallas-Ft. Worth, Charlotte, Denver, Indianapolis, Kansas City and Phoenix. Till date, it has received encouraging response with more than two million customers enrolling for the program. The pilot program has achieved 14 million transactions.
Target Circle will offer perks that include free birthday gift, personalized deals according to shoppers’ preference, early access to special sales throughout the year and 1% return on every item purchased that can be redeemed later. Also, consumers can vote for their favorite charitable organization where Target will donate as part of its charitable initiatives.
Customers who have a Target.com, Cartwheel or Target RedCard account will be automatically enrolled for the program. Meanwhile, new customers can create an account on Target.com or go to the local Target store and register their respective phone number.
The company is rapidly acclimatizing with the changing retail ecosystem and deploying resources to enhance omni-channel capacities, introduce brands, remodel stores as well as expand same-day delivery options. The new loyalty program is part of the company’s retail game plan to take on the likes of Walmart WMT, Dollar General DG and Costco Wholesale Corporation COST.
We note that shares of this Zacks Rank #2 (Buy) company have rallied 22.9% in the past three months compared with the industry’s rise of 15.3%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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