by Christopher Freeburn | April 17, 2014 1:07 pm
In a bid to boost competitiveness with Amazon (AMZN), Target (TGT) is adding almost 1,600 products to its existing subscription program.
The TGT subscription program allows customers to schedule the delivery of online orders in installments stretching from four to 12 weeks with free shipping. A TGT executive says the program has exceed Target’s expectations, the Associated Press notes.
Target launched its subscription program last year, focusing on about 150 products relating to baby care. Items covered in the subscription program now account for 15% of Target’s online sales, according to a TGT executive.
TGT is facing competition from Amazon’s “Subscribe and Save” program. Target has announced that consumers who use its subscription service will get a 5% discount.
In addition to Amazon, Walmart (WMT) and Sears (SHLD) also offer subscription programs.
TGT stock was flat in Wednesday morning trading, while WMT stock and AMZN stock rose modestly.
More Target News:
Source URL: http://investorplace.com/2014/04/tgt-target-adds-hundreds-products-subscription-service/
Short URL: http://invstplc.com/1h7kbkB
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.