Target Teams Up with Shopify to Expand Its Third-Party Marketplace

Money | June 24, 2024, 5:03 a.m.

Target is partnering with Shopify to introduce new and trendy brands to its online marketplace, Target Plus. Through this collaboration, smaller brands using Shopify's e-commerce platform can apply to join Target's third-party marketplace. This move aims to help Target identify popular products quickly and make them available to online shoppers. By expanding its online assortment with eye-catching merchandise, Target hopes to drive more frequent visits to its website and increase sales from both marketplace sellers and its own brands. Additionally, this partnership is part of Target's strategy to regain sales growth and enhance its e-commerce business, which has seen recent struggles. Target Plus has shown promising growth, with the platform doubling its seller and product count over the past year. The collaboration between Target and Shopify comes as both companies seek to boost their performance amid challenging retail conditions.