Target is undertaking a major revamp of its home assortment as part of a broader strategy to regain its design leadership in the category.
Speaking at the company's annual financial community meeting, Cara Sylvester, Target's newly promoted executive vice president and chief merchandising officer, said the transformation of the home business will take several years.
© Erik Gonzalez | Dreamstime
"Home is where our design ethos first became tangible, but it is also a space where we lost our way," Sylvester told investors. "Transforming this category will be a multi-year journey."
As part of the overhaul, Target plans to streamline its private-label home brands and focus more heavily on Threshold, currently the retailer's strongest-performing home brand. The company will relaunch Threshold this summer with clearer positioning and stronger storytelling, while introducing dedicated Threshold brand spaces in more than 200 stores.
Target is also refreshing multiple product categories across the home segment. By June, the retailer expects to have revamped 75% of its decorative accessories assortment, including items such as candles, throws and home décor. Major changes to the bedding category are planned for the fall.
The retailer is also placing greater emphasis on furniture, mattresses and rugs, with the goal of improving design appeal while carefully managing inventory levels.
The merchandising changes form part of a wider effort to transform Target stores into what CEO Michael Fiddelke described as "the most delightful experience in retail."
"Home is where we know we can win," Fiddelke said. "We're reimagining it toward greater relevance and differentiation."
Source: www.furnituretoday.com
