Target is Rumored to be Launching Paid Membership Program Similar to Amazon Prime
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We’ve been hearing some buzz about a possible Target membership program!
Would you pay for a Target membership?
According to an article on Bloomberg, Target is considering a paid membership program and it could launch as soon as this year.
The new program would offer more than the existing free loyalty program called Target Circle which offers members special deals, 1% back on purchases, and 5% off for your birthday. Some sources reported to Bloomberg that the new program would require a fee and may include Shipt, the grocery-delivery business owned by Target.
So far, there is no word on whether the new program will replace Target Circle or be offered as an addition. There is also no information yet on tiers, pricing, or perks of the new program and whether it might include benefits like free delivery (we’re also curious how it might impact the perks for Target Red Cardholders).
We’ll be keeping our eyes and ears peeled for any new information to report!
Why is Target considering a membership?
The company’s sales have been declining (stock is down 14.27% over the past year!) so the new membership program may be a way to keep up with competitors with membership programs like Amazon Prime and Walmart+.
Some of these membership programs offer perks like gas savings, no minimum delivery fees, price scanning, self-checkout programs, member-only deals, and more. That means that in order for Target to compete with these established programs, the store will need to provide customers with some pretty sweet incentives!
We’re crossing our fingers that this new membership program will have a lot to offer!
What are your thoughts? Would you be willing to pay for yet another membership?