Although many of us were negatively affected by the major hacking attack waged against Target’s data in late 2013, most of us have returned as customers. This is rather noteworthy since the company has now admitted that it chose to ignore critical warning signs that such an event might soon take place. Perhaps it may prove useful to other companies to review this store’s long-term success to understand why consumers have been so forgiving.
A Brief Review of Target’s History
According to the British publication, “The 50 Best Businesses,” Target was first founded as the Dayton Dry Goods Company back in 1902. By the time the 1920s rolled around, it had become such a great success that it managed to keep running straight through the Great Depression. Target decided way back in the 1940s to earn worker loyalty by becoming one of the first stores to offer both retirement and health insurance benefits.
It was not until 1962 that the company opened its first Target store up in Minnesota. Although it struggled at first, within roughly three years the company opened more of its name brand stores. By 1970, Target had opened 24 stores nationwide and claimed sales close to $200 million. It grew even more in 1982 when it purchased 33 FedMart stores in both California and Arizona. Back in 2000, that “the Dayton-Hudson Corporation was finally renamed the Target Corporation.”
Today, this store has become a mainstay to many shoppers, largely due to its careful expansion into a number of everyday goods that it never carried in the past.
Here are some of the specific reasons Target is gaining back the stronger reputation it had prior to the late 2013 hacking incident.
Types of Goods That Keep Strengthening This Consumer Powerhouse
- A number of grocery items are now offered in a large percentage of Target stores. This clever move now pulls in regular shoppers who would normally have gone to their grocery stores in the past. Although some prices for fruit and fresh food products are rather high, others are priced very low in hopes of attracting these food shoppers;
- Dependable brands of electronics and toys. Target pulls in major crowds for these items, especially during the late holiday season (this is one reason why the hackers attacked in late 2013 and not earlier in the year);
- They offer a wide selection of goods needed by apartment dwellers. You can easily find shower curtains, towels, kitchen utensils, and cooking gear – along with bed linens and various pieces of useful furniture;
- Other varied offerings usually include prescriptions, cleaning products and even various clothing lines.
According to the British text already referenced above, one “stateside Brit” has very cleverly made the following assessment of Target’s offerings. “If you ever want to buy a safe, a crib, a croquet set, a bicycle, some pajamas, a desk tidy, a large TV, a box of frozen burritos, a case of bottled water, a toothbrush and a faux vintage plaque bearing an inspirational slogan, you know where to go.”
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