NEW YORK — Target has shortened its go-to-market cycle to eight weeks, down from 27, for specific trending items so they can reach shoppers faster, Rick Gomez, chief commercial officer at Target, told an audience Monday at the National Retail Federation’s Big Show conference.
For apparel, 27 weeks to get product in stores and online is “too long in some cases,” Gomez explained.
“Not everything is in eight weeks,” he explained, “but the things that are trending that we’re seeing, that are going viral, that we want to be in-market ahead of the competition — we’ve created an operating model that enables us to do that.”
Bows as a design element, for example, were trending this past holiday season. But then cherries started appearing as a theme and Target was able to respond to that virality.
“Things are moving faster than ever before, and we are committed to delivering Tar-zhay magic,” Gomez said, referencing the “cheap chic” image the company has developed through its assortment and value price point. “We’ve got to be obsessed with listening to the consumer. Obsessed with what’s going on in culture. And then …. we’ve got to change the way we work so we can get things to market faster.”
“Things are moving faster than ever before, and we are committed to delivering Tar-zhay magic."
Rick Gomez
Chief Commercial Officer, Target
An accelerated strategy for on-trend products plays into the concept of inspiration, which is a focus for the retailer. Consumers are looking for value and may be stretching their budgets, but they are “still looking for that everyday joy, the thing that’s going to put a smile on their face,” Gomez said.
Other areas of focus include affordability and ease of convenience. Gomez pointed to the company’s owned labels, multiple price cuts and services as ways of helping consumers navigate challenges.
“I would argue that the decision on what we sell is probably the most important decision we make,” Gomez said. “If what we’re selling isn’t compelling, isn’t on trend, isn’t stylish, isn’t quality — then we won’t be successful.”
