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Wednesday, October 19, 2016

Changes in the Rules of Retailing

In Knowledge@Wharton:

How Target and Amazon Are Changing the Rules of Retailing
Wharton's Peter Fader and Syracuse's Amanda Nicholson discuss recent moves by Target and Amazon. ..." 

The retail business is witnessing two potentially game-changing strategies: Retail chain Target is opening smaller stores in urban locations to attract younger customers, betting big on that “flexible-format,” as is apparent from a Manhattan store opening announcement in October. Also diversifying its mix is online retailer Amazon, which plans to expand its grocery business with convenience stores and curbside pickups, according to an October 12 Wall Street Journal report. .... 

Target’s move could turn out to be a brainwave that attracts more than just millennials living in urban America, according to Wharton marketing professor Peter Fader. The smaller stores could also occasionally send those same customers to larger Target locations in suburban malls for larger shipping trips, and attract suburbanites who work in cities to drop by the downtown Targets on their drive back home, he says. ... " 

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