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Target Moves Into Same-Day Delivery with Shipt Deal

The retailer expects to offer same-day delivery on all major product categories by the end of 2019.

By Paul Bubny | Updated on December 15, 2017

Exterior of Target store A “next-generation” Target store opened in November in the Houston suburb of Richmond, TX.

MINNEAPOLIS—In a deal widely seen as a shrewd move to both capitalize on the advent of e-commerce and drive in-store traffic, Target Corp. is paying $550 million to acquire same-day delivery platform Shipt Inc. The Minneapolis-based retailer expects to offer same-day delivery of groceries and other merchandise at about half its 1,834 stores early next year.

“The retail landscape has been undergoing a fundamental change,” Zacks Investment Management reported Thursday. “With digital transformation in shopping and consumers splurging online, store and mall traffic has been hit hard. As a result, most retailers, including big-box, are struggling to compete with e-commerce channels and are being forced to trim store count to focus more on an online model.

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