Target considers launching a paid membership program. This approach differs from Costco, which requires a $60 annual membership for shopping privileges both in-store and online.
This approach differs from Costco, which requires a $60 annual membership for shopping privileges both in-store and online.
Amazon Prime charges $14.99 monthly or $139 annually in the U.S. Walmart Plus has options for $12.95 monthly or $98 annually.
These memberships offer free delivery, deals, and discounts, increasing company revenues.
Target has not commented on its potential membership program. Entering late, Target faces competition from Amazon Prime, Walmart Plus, and Kroger's Boost.
Target has faced slow sales recently, with consumers spending less on non-essential items that are a big part of its inventory. The retailer provides a free loyalty program, Target Circle, offering more deals and discounts.
Bloomberg reported that Project Trident might include Shipt, a grocery delivery service acquired in 2017. Target's shares rose roughly 2 percent in premarket trading.
