Target introduces Target Circle 360, a paid membership program with perks like same-day delivery

Target has launched a new paid program called Target Circle 360, offering unlimited free same-day delivery in as little as an hour for orders over $35 and free two-day shipping. The special offer for new members is $49 per year from April 7 through May 18, then $99 per year. Target Circle credit card holders can sign up for the lower price anytime. The company’s current Target Circle program has over 100 million members who shop and spend more than non-members.
Target’s annual investors’ meeting announced plans to refresh stores, expand store-owned brands, and build over 300 new stores in the next decade. Financial results show a decline in sales, but a 58% increase in fourth-quarter profits. Comparable sales slipped 4.4%, but the declines slowed compared to previous quarters. Target is aiming to take market share and balance value with trendy goods. They’re also making their loyalty programs easier to use and offering more benefits to credit card holders.
Comparatively, Amazon Prime and Walmart Plus offer similar paid membership programs with various perks. Target is considering additional benefits for their paid program based on shopper feedback. CEO Brian Cornell believes Target can compete with Amazon by leveraging the power of the Target brand. Target reported strong financial results for the latest quarter, surpassing estimates for earnings per share and revenue. They expect a comparable sales decline of 3% to 5% for the current quarter and anticipate unchanged to up 2% for the full year.