Opportunities
- Expanding to untapped markets in the United States.
- Target is starting to expand by opening stores internationally. They have already started to open stores in Canada, and plan on opening stores in Mexico and South America in the coming years.
- Increase consumer awareness of The Target 5% REDcard loyalty program because it has shown to continuously increase its revenue.
- Acquisition of smaller retail chains.
- Increase in advertising through mobile apps.
Threats
The two biggest threats concerning Target Corporation is competition among other retail companies and the decline in the economy. Target's has many competitors with the biggest one being Wal-Mart. Amazon.com is also becoming a big threat to Target. Since Target focuses on quality of products it makes the products more expensive then other stores, and with the decline in the economy more people are choosing to shop at the stores with the lowest price.
Bargaining powers/Threats of Substitutes
The bargaining power of the suppliers is weak and the bargaining powers of the buyer such as Target is strong which means that Target's suppliers hold little power over the prices of their inputs. This occurs because Target can easily switch suppliers if one does not cooperate with its desires.