A plan is on for the construction of a series of new Target stores that will be modeled on the traditional convenience store size and layout.
The Minneapolis-based company says that the new stores will measure around 6,000 square feet, substantially smaller than its average current store size of 135,000 square feet.
Two years ago, Target launched its small-format stores, which measure around 15,000 square feet. Last year those stores, according to sources, were responsible for more than $1 billion in sales.
The company is currently engaged in a search to find locations to build its new convenience store model, with the first such store expected to open sometime next year.
Target’s decision to become a presence in the convenience store market comes in the wake of reports showing a 4 percent sales increase in the overall convenience store industry, comprising a 2019 total of $251.9 billion.
According to a survey compiled by the National Association of Convenience Stores, operators of convenience store are reporting a significant jump in sales since the COVID-19 outbreak, with the vast majority of those stores seeing an increase in the purchase of grocery items.
By Garry Boulard
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