Discount giant Target is taking aim at regaining its status as a style leader, revamping its store in SoHo in Manhattan to feature trendy apparel and home goods in an interactive setting.
The Minneapolis-based retailer, attempting a turnaround, has transformed its 27,600-square-foot store at 600 Broadway into what it described on Tuesday as "a one-of-a-kind concept store where everyday shopping meets play, discovery and style."
Target called the redesigned store "immersive, experiential." As typical with concept stores, it’s possible some of the elements could roll out later at other locations nationwide. But no mass launch of the concept is slated now.
The foray reflects incoming CEO Michael Fiddelke's quest "to put style and design at the company's forefront," according to the retailer. That's in keeping with the company's legacy as a leader in affordable and trendy fashion — a reputation that once earned it the faux-French moniker "Tarjay" as in "cachet" — for selling cheap-chic apparel and designer collaborations.
Target has been in a sales slump for several years, facing criticism from retail analysts and shoppers about its sometimes-empty shelves and messy racks and a lack of inspiration in its clothing and home decor merchandise. It has also been hit hard by retail theft and was blasted by the political right and then the left over its display of LGBTQ fashion and its Diversity, Equity and Inclusion program rollback.
Looking for a comeback, last month Target said it would be spending $5 billion to open new locations and update existing stores next year. In October, it announced it was cutting 1,800 corporate jobs.
The revamped SoHo Target looks to address some of the retailer's issues by offering a highly curated selection of apparel, beauty, home finds and seasonal drops.
"Style and design are part of Target's DNA, and there's no better place for us to showcase what's next for our brand than in one of the style capitals of the world," Cara Sylvester, Target executive vice president and chief guest experience officer, said in a statement. "With Target SoHo, we're bringing together the best of Target and the best of New York — elevated products, immersive storytelling and an experience that invites guests to explore, express and get inspired."
The goal is to also establish a deeper connection to New York, according to the retailer.
According to Harris Poll data, 82% of consumers appreciate when stores curate gift ideas, and 78% want aisles that feel like destinations for discovery. Target said its SoHo store is now designed to deliver that.
One of its features is "Curated By," a seasonal collection led by the Target team in partnership with New York tastemakers. It shows those influencers' favorite Target finds across fashion, beauty and home. The first one will be an array from actress and comedian Megan Stalter.
"The Drop @ Target SoHo" offers a rotating showcase of seasonal styles, with new collections monthly.
At the Broadway Beauty Bar, there's a curated collection of Target's best beauty picks, hand-selected by beauty experts. To kick it off, celebrity makeup artist Katie Jane Hughes will curate her Target picks. Shoppers will also be able to explore trending products, try samples and "capture content" in the Viral Vanity studio, according to the retailer.
The SoHo store also has a "Gifting Gondola," a photo-ready installation complete with a convex mirror for capturing festive reflections and what Target called a Selfie Checkout.
Far from 'mainstream'
Neil Saunders, a retail analyst and managing director at analytics firm GlobalData, said that Target's SoHo concept makes sense.
"It is great to see some new thinking and innovation from Target, especially in terms of creating a more immersive and engaging store experience," Saunders said in an email to CoStar News. "While this kind of shop is far from a mainstream Target, it is designed to cater to a particular type of urban audience that demands style and fashion fixes. Though making this work will depend on good execution along with the smart new design."
Target didn't respond to an email from CoStar News seeking comment on Saunders' remarks.
Through 2026 and beyond, the SoHo store will evolve into a fully immersive Target experience, according to the chain.
"Guests can expect new experiential zones, seasonal activations, and cafe and event programming," Target said. "The store will continually adapt and transform as Target explores how different concepts and products resonate with consumers in this creative, experiential environment."
Saunders cautioned that Target needs to focus on how it can expand initiatives at the SoHo location to the rest of its brick-and-mortar fleet.
"While this experimentation is a good thing, what Target also needs to think about is how it uses some of the learnings from this store to lift the experience across all of its shops," he said.
The SoHo store's redesign moved from concept to completion in just four months, according to the retailer.