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Farewell, 2022! Here’s a Look at Target’s Top Moments from the Past Year

Target | January 17, 2023

2022 was full of progress, investments, challenges and accomplishments, and through it all, Team Target didn't miss a beat, bringing joy and inspiration to their guests all year long. While we have lots in store for 2023, let's bid adieu to 2022 with highlights from the past year.

It starts with their global team

Their team shows up in big and small ways for Target guests, communities and each other, day in and day out. And they're supporting them every step of the way. In 2022, they set a new starting wage range and rolled out broader, faster access to comprehensive health care benefits for their hourly team members. At HQ, they enhanced office spaces, technology and well-being resources to support their new hybrid work model.

Tuition-free degrees, time off and free Lyft rides to get to the polls on election day, and support for their team and local communities hard-hit by Hurricane Ian are just a few of the ways they take care of their team.

Striving for sustainability and inclusivity

They're also committed to caring broadly for people and the planet. Their sustainability strategy, Target Forward, touches every part of their business — and it's grounded in a vision to co-create an equitable and regenerative future with Target guests, partners and communities. In 2022, they focused on investing in climate action, meeting their guests' growing call for brands and products designed with sustainability in mind, and reaching or exceeding their diversity, equity and inclusion (DE&I) goals. They're on track to meet their goal to spend $2 billion with Black-owned businesses by 2025 — it's one example of their Racial Equity Action and Change (REACH) strategy in action. Since 2020, they have partnered in a big way with Bridgeforth Farms to supply cotton for apparel in their 2022 Black History Month assortment and expanded the support of Black students through the Target Scholars program. And they're inspired to work even harder on their 2022-2024 goals, where they'll focus on creating even more equity and belonging within their team, community and business.

A few other ways Target has championed inclusivity in 2022: They've continued to support the troops and their families by expanding the military appreciation discount to celebrate Independence Day, kicked off Latino Heritage Month with an exclusive collection featuring more than 90 Latino-owned and -founded products, and teamed up with LGBTQIA+ designers, entrepreneurs and Target team members to design the 10th annual Pride assortment.

From store to shining store

It was a marquee year for Target stores as they debuted 23 new locations nationwide, from Times Square to Jackson Hole, Wyoming. They reached a major milestone with their 1,000th store remodel and continued to invest in the services and features their communities love and in enhancements that make it easier for the team.

Speaking of Drive Up, they made guests' dreams come true, rolling out the option in select stores to add a Starbucks order or make product returns without leaving the driver’s seat. And they continued to make deliveries even faster for guests, with new sortation centers — the next phase of our stores-as-hubs strategy.

The joy of shopping at Target

Thier only-at-Target shopping experience got even more inspiring with new owned brands like Brightroom, adult beverage brand Casa Cantina and hundreds more Disney, Apple and Ulta Beauty shop-in-shop locations to give guests those incredible in-store experiences they love.

Just in time for the holidays, they brought more toys and more joy to guests with their exclusive FAO Schwarz partnership, a collab with Marvel Studios' "Black Panther: Wakanda Forever," plus Bullseye's Top Toys. They delivered ease, inspiration and value — and a lot of holiday happiness — with their longest holiday shopping season, more deals, and their largest Black Friday sale yet.

And they took fashion to the next level — and advanced their REACH commitment — with Houston White x Target and new owned brand Future Collective, plus they brought iconic brand Levi's to hundreds more stores. They also continued their long history of exclusive design partnerships with Stoney Clover Lane, Tabitha Brown and their Fall Designer Collection.

Tech talk

Technology is critical to Target operations and success as a company, and their global tech team is the best of the best. In 2022, initiatives like their Emerging Engineers Program helped new engineers advance in their careers. Target in India hosted its third annual Target Elevate conference to support women in tech and launched the Target Multiplai conference that explored artificial intelligence in retail applications.

They're also increasing their investments in technology to fuel and grow digital capabilities like their in-house media company Roundel, which creates smart marketing campaigns that connect Target guests to information and offers they find most relevant, delivering a more personalized guest experience and creating value for partners. Roundel drove more than $1 billion in value in 2022 and we expect that to grow to over $2 billion in the next few years.

Throughout 2022, Target continued to make the right strategic investments to support their global team, guests and communities, investing more than $5 billion to keep growing their business and bring guests even more of what they love. And there's so much to come, so stay tuned for more Tarzhay magic in 2023.

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#target #2022recap #retail

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