Target Corp. is considering launching a paid membership program, similar to Amazon Prime and Walmart+, to drive growth and stay competitive in the retail market. Internally referred to as Project Trident, this initiative could be introduced early this year, aiming to enhance customer loyalty and generate additional revenue.
Target currently offers a free loyalty program named Target Circle, which rewards customers with deals and discounts on their purchases. The proposed paid membership would expand on these benefits, potentially incorporating services like Shipt, Target’s grocery delivery service acquired in 2017, for a subscription fee.
Entering the paid membership market could position Target to better compete with other retail competitors, such as Amazon and Walmart. Kroger’s Boost program, started in 2022, has exceeded expectations, highlighting the potential benefits of such initiatives.
To succeed, Target will carefully consider the perks and benefits of its membership program as consumers evaluate the value of multiple retail subscriptions. Offering unique advantages, such as savings on gas or exclusive deals, could be vital to attracting and retaining subscribers in this competitive landscape.
