Target just launched its own version of Amazon Prime
Given the huge footprint of Amazon Prime and the rapidly growing one of Walmart+, it was only a matter of time before Target entered the fray.
On Tuesday, it did just that, announcing a new paid loyalty program called Target Circle 360. Members will pay $99 per year, but the company is launching it with a rate of $49 for anyone who signs up between April 7 and May 18. (That $49 rate will also be standard for Target Circle card holders even after the promotional period.)
Members of the paid loyalty program will receive free two-day shipping as well as unlimited free same-day delivery in as little as an hour, as long as orders are over $35.
“Our goal is to recapture profitable sales, traffic and market share gains by expanding what makes Target different and better for our guests,” CEO Brian Cornell told analysts.
The news follows stronger-than-expected earnings for the retailer and accompanies plans to open more than 300 new stores and upgrade many older ones.
Target Circle 360 was born, in part, out of the company’s acquisition of Shipt in 2017. That $550 million deal made it a player in the same-day delivery wars. Members of the program will also have access to Shipt’s retailer marketplace, giving them access to more than just Target.
“With this new foundation in place, we’ll continue adding benefits and perks based on what matters most to our guests, like exclusive partnerships, product offers, and more, so they can get the most out of shopping at Target,” said Cara Sylvester, executive vice president and chief marketing and digital officer at Target. “This goes back full circle, pun intended, to how people are shopping today. Shopping’s dynamic, and so are we.”
