Target took advantage of the recent downturn in the real estate market and purchased a space in the 7+Fig mall in Los Angeles to open a new, smaller store. Target feels as though it has been neglecting the urban market that could prove to be a great resource of revenue.
Residents of the downtown area expressed that they would love a Target in the area to be able to conveniently pick up basic groceries during their busy schedules.
Other retailers such as Wal-Mart and Costco are looking to take advantage of the untapped urban market and offer smaller stores that would provide groceries and household basics to a busy working demographic in downtown areas.
This seems to be an a great move in terms of distribution channels for these large retail companies. Building smaller stores that offer the shopping "basics" in highly populated urban downtown areas will make these companies' products more accessible to those who lead busy lifestyles and it will also widen their customer base.
The only challenge these retailers will face is the acquiring of expensive real estate in urban areas.
http://www.latimes.com/business/la-fi-1104-downtown-target-20101104,0,6438689,full.story
I hope this idea spreads to DC as well! It's awesome! I know that the closest Target around here is in Columbia Heights and I haven't been to it yet even though my roommates and I have been wanting to go. Our "convenience" store is CVS but it doesn't offer the same mix of goods that a Target or Walmart offer. One stop shopping is something everyone loves and would be extremely beneficial to the busy metropolitan civilian.
ReplyDelete--Leah Stoltz
After reading the article that I wrote about, it seems like this would be a great idea because now that food prices have risen a lot these past couple of months, Target offering low-priced goods will attract so many costumers, especially if it is in a downtown area. Also, I agree with what Leah said- I would love to have one here as well! It would be extremely convenient, and would prosper in a city like DC.
ReplyDelete-Tania Dabdoub