Target Mission Statement | Vision | Core Values | Strategy (2024 Analysis)

Company: Target
CEO: Brian C. Cornell
Year founded: 1962
Headquarter: Minneapolis
Employees (2021): 450,000
Type: Public
Ticker Symbol: TGT
Market Cap (August 2021): $81B
Revenue (2022): $106B Billion
Profit | Net income (2022): $6.95 Billion

Did you know? 75% of the population in the USA lives within ten miles of a Target store.

The eighth largest big box department store chain, Target is one of the most popular retail chains in the USA. Founded in 1962, the general merchandisers work with over 450,000 employees in the country and abroad.

Target or TGT has 1934 stores in 50 states, 28 office locations, and 51 supply chain facilities. The retail store is known for selling a wide variety of clothing, household goods, and electronics.

In 2020, the retail store saw a significant business climb when Americans started shopping from TGT’s discount stores to stock up on things like hand sanitizer and toilet paper. The growth continued in 2021 as buyers’ spending switched from emergency stocking to standard purchasing.

Target’s annual revenue is $106 billion.

Here is an inclusive analysis of Target’s mission statement, vision statement, and core values to help you understand what makes this retail store a giant retailer.

Table of Contents

Target Mission Statement and Purpose

“To help all families discover the joy of everyday life.”

Target defines its mission statement as the “purpose” of the company and uses it as promises to offer convenience, affordability, fun, and ease for shoppers.

Target Mission Statement/Purpose Analysis

Convenience and Fun Shopping

Target indicates “ease of shopping” as one of the top priorities in its mission statement. The company has been on a quest to bring happiness to people’s lives by offering quality services through its retail stores.

Target has a reputation as a go-to store where buyers can find everything they’re looking for. The general merchandisers value customers’ time and money, and so they aim to offer services that save. The store chain considers buyers’ time a rare and essential commodity they need to use wisely.

Target helps buyers by ensuring that its stores have everything they will want to buy. The company categorizes all products to help customers find things quickly. Whether they’re personal care products, electronics, or grocery items, Target has a separate category for everything.

Cost Effective Products

Target takes pride in being a beloved brand with its top-quality services and reasonable prices. The company’s motto, “expect more, pay less,” clearly defines its commitment to providing various products at the best prices.

It offers guests the quality products and brands they want at reasonable prices they love, along with many ways to earn rewards and save big on every Target run. The company’s pay less mantra shows that it does its best to offer the most affordable product pricing.

The quotation reviews by TGT affirms its affordability. The store chain has some attractive deals offering a 25 percent discount on many products.

Exceeding Expectations

In addition to mainstream business, there are plenty of services the leading retail store is a part of. It shows that TGT isn’t just a corporation that sells everyday products. Its mission to add to people’s joy demonstrates TGT’s passion for protecting the environment and improving the community.

These efforts bring out the element of social responsibility TGT has been trying to fulfill for years. The retail chain positions itself as an organization that impacts society. Target’s overall shows its progressiveness as a customer-oriented store.

Vision Statement

“Co-create an equitable and regenerative future with our guests, partners, and communities.”

Vision Statement Analysis

Target’s vision statement establishes a link between the company’s success and its positive impact on the people. This connection drives motivation to do business.

Comprehensive Impact

The brand executes business strategies to ensure that it makes an impact on the lives of customers who trust the reputed store for all their shopping needs. The company keeps tabs on every brand it collaborates with to ensure that it offers maximum client value.

The company doesn’t stop here as it strives to improve its existence to extend goodness to the community in numerous ways. It includes everything from embracing diversity and respecting buyers and employees to bringing a complete change and promoting environmental sustainability.

Long-term Commitment to Communities

Target’s business operations showcase its principles and structure that help it achieve its goals. The operation further demonstrates that Target has a structured and planned way to run the business.

While ensuring a sustainable framework, the company emphasizes its long-term commitment to customer satisfaction.

Target Core Values

Target is a global brand that keeps its values at its core to define its identity. The values guide employees’ daily behavior and enable them to focus on bringing a purpose and vision to life. These values fuel the company’s culture and ensure that all employees or teams work harmoniously toward common goals.

Inclusivity

Inclusivity is one of the core values of TGT, as the company values new approaches and voices. TGT ensures all team members embody the brand’s core values. This is the reason the company focuses on creating equitable experiences for everyone.

Connection

TGT believes in building long-lasting relationships. Hence, the company collaborates with partners and associates to deliver fantastic quality. By leveraging its bond with partners, Target manages to progress.

Drive

Target focuses on implementing strategies that benefit the company, its guests, and its teams. Behind the scenes, teams are hard at work to deliver results that inch closer to perfection.

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