Despite concerns that Target’s online growth is cannibalizing its brick-and-mortar store sales, Chairman and CEO Brian Cornell contends that physical and digital activity are in fact working in tandem to drive the next phase of the retailer’s evolution.
“Our stores are driving digital growth,” Cornell said during a Monday keynote at the Shoptalk 2017 conference, noting that Target stores now fulfill close to 55% of all online orders. “About 50% of Americans live less than four miles of a Target store. That’s a huge competitive advantage. We’re turning our stores into fulfillment centers — we can ship twice as fast, and dramatically reduce costs compared to traditional [distribution centers].”. . . more