Market Overview

Target Joins Same-Day Delivery Wars With Shipt

Target Joins Same-Day Delivery Wars With Shipt

The retail battle to deliver packages to consumers in less than one day intensified Thursday with the entrance of Target Corporation (NYSE: TGT).

What Happened

Target said Thursday that Shipt — a same-day delivery platform it bought in 2017 — will be tasked with delivering orders the same day they are entered. Target will charge a flat fee of $9.99 per order, or shoppers can buy an annual Shipt membership for $99 per year.

Target said it will be able to deliver 65,000 items available on the e-commerce site in as quickly as an hour. Holders of the Target-branded red card will continue to receive a 5% discount on orders.

Why It's Important

Target's new same-day delivery option makes it "even easier" for consumers to shop, Dawn Block, the retailer's vice president of digital, said in a blog post.

The new option is consistent with the company's mission of offering "great value, a curated product assortment and helpful guest service," she said. 

What's Next

Target's same-day delivery option is live on desktop and mobile web browsers. A new feature built into the Target app is slated to become available for the 2019 holiday season, according to CNBC

Target shares were up 0.33% at $88.55 at the time of publication Thursday. 

Related Links:

Analysts Like Target's Strong Comps, Interested In Move To Omnichannel Business

JPMorgan Takes Bullish Turn On Target, Says Retailer Underappreciated By Investors

Photo courtesy of Target. 

Posted-In: CNBC Dawn Block retail ShiptNews Media Best of Benzinga


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