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Apple

Apple Plans Major Retail Push With New Stores Across China, US

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Apple will not just refurbish its current stores but will additionally build new ones in an attempt to reenergize its offline retail footprint throughout the world.

When referring to its actual retail locations, Apple hardly totally disappears; instead, it frequently updates, modifies, or even adds new sites. However, the corporation will concentrate on reviving the in-person purchasing experience during the span of the following four years.

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Image Source: bqprime.com

Bloomberg describes the business’s efforts to embark on a more aggressive push into China as well as remodeling several sites in the US in an article recently published detailing Apple’s prospects for retail locations. Apple has ambitions for Paris and London so it won’t just overlook Europe.

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In addition to five brand-new shops in Europe including the Middle East, four newest shops in the United States alongside Canada, and an overall 15 more retail locations in the Asia-Pacific area, Apple is apparently in talks to open these new stores.

Regarding the refurbishments, the source claims that Apple will move or modify 13 locations in North America, about six in Asia, as well as nine in Europe. In total, this would mean that during the next four years, Apple will be constructing 53 new, relocated, or renovated stores.

If the preparations for real retail outlets go according to plan, Apple will achieve a minimum of a single goal along the way. This includes establishing three stores in India and building its first outlet in Malaysia, in Kuala Lumpur.

Apple is aiming to establish an additional location close to Battersea Power Station situated in London in addition to upgrading the Opera shopping area in Paris.

According to reports, an additional store will open in Miami, Florida, along with Apple may open a new retail location in Shanghai’s Jing’an Temple Plaza.

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A refurbishment is anticipated for the Shinsaibashi site of the future store, which is also scheduled to open in Osaka which is the Grand Front Plaza mall in Japan. According to the report, several of these situations are currently in the debate stage as they work with plans and estimates.

Given this, it’s probable that Apple’s bold intentions for its physical shop footprint won’t turn precisely as they are described here.

In Tysons Corner, Apple officially opened its first Apple Store ever to exist in the United States. The newly opened shop is not distant from the old one, but it has a completely different design and greater room for customers.

Target Corporation

Target Corporation – Top Retailer In The United States Who Has Donated 5% Of Its Profits.

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Target Corporation is amongst the most recognizable brands worldwide and a top retailer in the United States. Since 1946, the company has donated 5% of its profits, which amounts to millions of dollars per week in today’s values. Target has its stores in all 50 States in the USA.

About The Company

American big-box retailer Target Corporation has its corporate headquarters in Minneapolis, Minnesota. It is listed on the S&P 500 Index and is the eighth-largest retailer in the USA. In 1962, Minneapolis’ Dayton’s department store created Target as its discount arm. As of 2022, Target has 1,934 stores in the USA and is ranked 32nd on the 2022 Fortune 500 list. In order to provide its consumer base with a wide selection of high-quality products, Target hosts several well-known brands. Top firms like Apple, Dyson, Disney, Johnson, and Johnson, and Fisher-Price are some of the more well-known brands. Target stores sell a wide range of goods, including everything from baby apparel to luxury furnishings and technology.

Target Corporation
Image source: apparelresources.com

History Of The Company

George Draper Dayton, a banker, and property investor founded Target as Goodfellow Dry Goods in 1902. The name was altered to Dayton Dry Goods Company the following year, and in 1911 it was abbreviated to Dayton Company. In 1962, the first Target store was launched by Dayton Company as a budget-friendly alternative to Dayton’s department shops. In 1969, Dayton merged with J.L. Hudson Company to form the Dayton-Hudson Corporation. Dayton-Hudson later acquired US retailers like Mervyn’s and Marshall Field and Company. Target became the top revenue generator for Dayton-Hudson by 1975, and by 1979, its yearly sales had surpassed $1 billion. In 1990, the Target Greatland store debuted with a more extensive inventory than typical Target stores. The business built the first ever SuperTarget store in Omaha, Nebraska, five years later. This store had a full-service supermarket, a pharmacy, a photography studio, and eateries. In 2004, Dayton-Hudson sold Mervyn’s and Marshall Field and Company; changed its name to Target Corporation in 2000 to reflect a new emphasis on its Target locations. By 2010, Target had made a name for itself by providing high-end goods at affordable prices. Customers particularly favoured the limited-edition apparel lines produced through collaborations with renowned fashion designers like Zac Posen, Isaac Mizrahi, and Jason Wu. In 2012, Target debuted its first CityTarget store, catering to its urban customers.

International Operations

As of 2022, Target is only active in the United States; although, in the past, Target tried to open stores in Canada. As a result, the Target Corporation does not own other businesses or trademarks that use the term “Target” besides the United States. The stores under question are unrelated to a corporation in Australia with the same name and brand. Given that both the Target Corporation logo and the Target Australia brand’s logo are reasonable candidates for the term “Target,” it is plausible that the branding was copied legally or that the companies happened to have the same name and emblem by accident.

Controversies

In 2013, around 110 million Target customers were impacted by a data breach in Target’s systems. Data on customers’ names, phone numbers, emails, and mailing addresses were compromised. In 2015, Target and the impacted customers settled their class action lawsuit for $10 million. In 2014, a class-action lawsuit was filed in the U.S. District Court on behalf of Ohio residents who bought wet wipes under the Target brand. The Target Corporation was being sued on the grounds that the retailer deceived customers by labeling the packaging of its up & up product wipes as flushable and secure for septic and sewer systems. As a result of their purported ability to block compressors at municipal waste management facilities, the complaint also asserted the wipes posed a risk to the public’s health. In 2018, Alameda County DA O’Malley announced that Target would be fined $7.4 million for throwing out illegal e-waste, medical goods, and personal data.

Founder – George Dayton

American entrepreneur and philanthropist George Dayton is known for founding Dayton’s Department Store, which ultimately evolved into Target Corporation. He bought land on Nicollet Avenue in Minneapolis in 1902 and Goodfellow & Co., reorganizing it as Dayton’s Dry Goods, which developed into Dayton’s department store.

CEO – Brian Cornell

Brian Cornell serves as both the chairman and CEO of the Target Corporation. In 2014, he replaced Gregg Steinhafel as the CEO and chairman of Target. Cornell was behind the closing of the loss-making Target Canada during his leadership. Cornell was selected “Business CEO of The Year” by CNN in 2019.

flipkart logo

Government Denies Flipkart Permission to Enter the Food Retail Space

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The world knew that something big was in motion when Walmart bought a majority stake in Flipkart. The major e-commerce platform had become extremely popular in India in recent years. Since India has a large population in need of household supplies and other goods, Flipkart was booming. Walmart, a major wholesale and retail player in the US with thousands of stores, wanted to become a part of this massive industry. However, a recent landmark decision by the Indian government has made things difficult for them. Here’s a look at what the decision and what it means for the retail giant. 

India Says No

The Indian government dismissed Flipkart’s plan to make its entry into the retail food business. This move will serve as a considerable setback for Walmart, which was planning on expanding into this space in India. The American retain giant owns the majority of the e-commerce firm and was hoping to use this plan to get back on its feet. Due to the unprecedented COVID-19 pandemic, the e-commerce platform was facing a massive downturn. The company recently released a statement that Asia, which was the world’s third-largest market, had been one of the worst-hit by the pandemic. 

Laying Down the Law

The Ministry of Commerce and Industry, through its wing, the Department for Promotion of Industry and Internal Trade rejected Flipkart’s proposal. Flipkart competes directly with Amazon India and wanted to enter the retail food space to make up for their losses and gain a better foothold in the Indian market. The government body turned down this proposal by stating that it violated regulatory guidelines. The proposed new business, titled Flipkart FarmerMart, cannot be accepted as it is structured on 100% FDI funding. The Chief Corporate Affairs Officer of Flipkart, Rajneesh Kumar, said they would re-evaluate their proposal and reapply soon.

Flipkart’s Response

Rajneesh also said that Flipkart focuses on building an innovation-driven platform and marketplace. He also said that the company believes it can significantly help India’s farmers and even its food processing sector through this initiative. The proposed plan would help boost the retail food chain supply and make the entire process more transparent and credible. Furthermore, Flipkart also believes that the scheme would help Indian farmers improve their income, and therefore, support the Indian agricultural sector. 

Flipkart’s Plan

The e-commerce giant had come out with such a plan last October. Flipkart’s CEO, Kalyan Krishnamurthy, had said that the company would invest over $258 million in this new venture. The investment would majorly go into supporting and improving the local agriculture-ecosystem. The company would also help develop the supply chain by working with thousands of farmers, farmers’ associations, and the food processing industry. The plan was to help improve the agricultural sector while also making high-quality food available to millions of Indians across the nation. 

Indian Government’s Stand

Other e-commerce platforms, such as Zomato, Grofers, and Amazon, had entered this space and gotten approval for the same. Up until recently, the government had permitted 100% foreign direct investment in this sector. However, it has since reevaluated those guidelines and made changes. As per the new decision, food retail functions as any other marketplace that bridges the gap between third-party sellers and buyers. Therefore, such agencies can only provide a platform for business to occur. They cannot offer their own products or have equity in any firm that sells on its platform. 

Most of these e-commerce platforms want to enter the food and grocery sector as it enables them to engage with customers frequently. As per studies, this sector remains relatively untouched, as it accounts for only 1% of total online sales. Walmart recently stated that the government’s strict lockdown measures and the overall effect of the pandemic had affected global growth. Most states in India had restricted e-commerce platforms from delivering in a bid to stop the spread of the novel coronavirus. It will be interesting to see how the international retail giant will bounce back from this setback.