Target 101

Posted on April 4, 2013 by Michael Benarroch

Target 101

Posted on April 4, 2013 by Michael Benarroch

Very little on the retail landscape has sparked more anticipation than the long-ballyhooed arrival of American general merchandise giant Target inside these Canadian borders. The first trio of the little darlings (in Milton, Fergus and Guelph, Ont.) flung open their doors a few weeks ago to throngs of expectant shoppers, fresh off a feeding frenzy of American hype over the place.

To better acquaint this country’s citizens on the retail onslaught poised to befall them, some Target (pronounced Tar-ché north of the border) tidbits:

• In 2010, Target spent nearly $2 billion to snap up most of the real estate assets operated by Zellers.

• The projected cost of renovating and expanding the former Zellers locations was estimated at over $1-billion when the deal was announced in January 2011.

• Target will invest between $10- and $12-million to renovate each of its Canadian stores.

• The company plans to open 24 Canadian outlets in March; 124 by the end of the year.

• The Target “look” emphasizes wide aisles and a broad selection of products.

• Target will staff each store with 150 to 200 employees — almost twice the number as in the Zellers outlets whose leases so many of these newcomers take over.

• Industry observers predict that Target will enjoy 200 per cent more sales per-square-foot than Zellers.

• Distinct from the States, products in Canadian stores will be displayed on white “gondolas” to be showcased more prominently.

• Awareness of Target’s brand jumped to 92 percent earlier this year, a considerable hike over the 70 percent who knew about the place when Target first announced it would open stores in Canada in 2011.