Target + Instagram = In A Snap

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TargetTGT
has launched a new app that allows its customers to snap a picture of select items and purchase them immediately. The app (appropriately called In A Snap) is built specifically for Target-related merchandise that appears in magazines, catalogues and other printed materials. Related ads will be noted with the In A Snap icon, which looks like a shopping cart. That icon does not appear in
this example
, however, indicating that other, unspecified Target ads may be supported. This is part of Target's strategy to take back the holiday shopping season. Last year the company experienced a PR nightmare after hackers stole the credit and debit card data of more than
40 million customers
. The data theft impacted as many as 70 million Target accounts and cost banks more than
$200 million
. At least one executive, former CIO Beth Jacob, was thought to have
resigned
because of the data breach. Target has tried to win back customers with special coupons and new text-based discounts (which are only given to those who hand over their mobile phone number). Target also announced its plans for superior
credit card technology
, which should make it harder for thieves to hack the retailer. In June, Target announced that online shoppers would receive free shipping on
most orders
totaling $50 more. Only oversized and/or heavy items would be excluded from this offer.

Related Link: StubHub Hacked; Arrest Announcements Pending

Instant Sales
At its core, In A Snap is a Target-specific scanning app. Many bloggers are already
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drawing comparisons
to the Firefly feature that is built into
Amazon'sFire Phone
. Some analysts think that Firefly -- which can scan and define millions of different items -- could be a
game-changer
for Amazon. Target did not say how many items In A Snap can scan, but the app is currently limited to
pictures
of items. Firefly can scan actual items. In that sense, In A Snap might seem like a primitive app. Target is not branding it as an item scanner, however. The name says it all: with In A Snap, Target hopes to be among the ranks of popular photography apps, such as Instagram. Will that alone be enough to get consumers on board? The answer likely depends on how customers feel about Target products in general. In A Snap could be a big hit with the retailer's most loyal customers, but it might not be able to lure those who prefer other big box chains. Disclosure:
At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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