Care/of wellness brand introduces a new vitamin line for sale at Target stores
In a year marked by economic instability for the retail industry, Target has managed to thrive, with its sales growth in 2020 surpassing the total sales growth it achieved over the past 11 years, as revealed in the company's fourth-quarter report. This growth can be attributed to strategic partnerships and product launches, which have been instrumental in Target's success.
One of the key collaborations that have contributed to Target's success is the partnership with mattress brand Casper. Similarly, men's grooming brand Harry's, known for its subscription service, teamed up with Target in 2016, making its products available in both physical locations and online.
The strategy of partnering with various brands has become increasingly popular in recent years, with examples such as electronics giant Apple and beauty retailer Ulta announcing they would be opening Target shop-in-shops this year. This approach has proven successful for Target, as demonstrated by its partnerships with Apple and Ulta in electronics and beauty respectively.
Target's latest collaboration is with Care/of, a vitamin brand that prides itself on offering products that are Certified C.L.E.A.N., non-GMO, sugar-free, gluten-free, vegan or vegetarian, and free from unnecessary fillers. The product line, which includes multivitamins for women, men, and prenatal care, as well as benefit-led blends for sleep, immunity, relaxation, energy, and focus, will be available in Target's stores and website starting March 28.
This approach has served as a popular middleman for DTC (Direct-to-Consumer) brands that wish to expand their reach to a new group of consumers. Notable examples of DTC brands that have expanded into major retailers include Glossier, partnered with Sephora, and Oura, available in Best Buy.
Target Chairman and CEO Brian Cornell attributed the company's success to its multi-channel shopping and fulfillment options, which he said were key to gaining customer loyalty. Neil Saunders, managing director of GlobalData, stated that Target's tactic has been to take a forensic look at certain categories and plot ways to engineer growth.
As we move forward, it is clear that Target's strategic partnerships and product launches will continue to play a significant role in the company's growth and success.
- The collaboration between Target and Care/of, a vitamin brand focusing on clean, non-GMO, sugar-free, and vegan or vegetarian products, will debut in Target's stores and website on March 28.
- In a bid to expand their reach to a wider consumer base, Direct-to-Consumer (DTC) brands like Glossier and Oura have partnered with Sephora and Best Buy respectively.
- Target's partnership with mattress brand Casper and men's grooming brand Harry's, both available in Target's physical stores and online, have been instrumental in the retail giant's success.
- Electronics giant Apple and beauty retailer Ulta are among the brands that will be opening shop-in-shops within Target stores this year, as part of the retail industry's increasing trend of strategic partnerships.
- Neil Saunders, managing director of GlobalData, commends Target's strategy of focusing on certain categories and strategically engineering growth, which he believes is key to customer loyalty and business success.
