A Target Corporation Analysis Target originally started in Minneapolis in 1962 and currently has 1,803 stores and over 340,000 employees (Corporate Fact Sheet, 2017). The company target market are consumers that shop for everyday items and also accommodate consumers who are looking to purchase item such as new electronics like TV’s and game consoles, and to the consumers who are shopping for new furniture for children like cribs and dressers. The prime market for Target are consumers at a median age of forty. Fifty-seven percent of their consumers are college graduates, have a house hold income of $64k, and forty-three percent being families with children (Corporate Fact Sheet, 2017). Target is able to offer competitive “style at discount …show more content…
The company officially changed its name to The Dayton Company who created Target in 1962. Target is currently ranked as the second largest retailer in the United States, and rated the 4th largest retailer on the Fortune 500 list, leading behind the major retailers like Wal-Mart and Costco (Wahba, 2015). Target website also holds a ranking as one of the most visited websites in the retail market. Wal-Mart holds the number on spot on the Fortune 500 list for retailers, and sell similar products found at Target. Sales revenue for Target in 2016 was 73.79 billion with 19.58 billion in gross profit. Targets gross income is on a consistent 5 year trend with the lowest in five years being in 2012 with a revenue of 69.87 billion and a gross profit of 19.43 billion (Wahba, 2015). The company launched its initial public offering in Oct. 18, 1967 and currently stock is priced at $64.13 a share (“Target Corp," 2017). Targets five year trend shows that not only are they successful continually serving their existing consumers while at the same time gaining new ones, but also being able to hold their position in the retail market as a financially successful