Target Corp. is wading into a new territory: $1 toiletries.
The Minneapolis-based retailer said it is planning to launch a new brand for consumer staples called Smartly with more than 70 products, including razors, toilet paper and dish soap, mostly priced under $2. The products will be offered at stores and online in mid-October.
Mark Tritton, Target’s TGT, -0.38%[1] chief merchandising officer, said the new line of consumer staples is an attempt to compete with generic brands at drugstores and discount chains. “It’s about showing people that I don’t have to go to Aldi or I don’t have to go to Dollar General to find what I’m looking for,” he said in an interview.
Smartly is the latest step by the retailer to offer more competitive prices, a change in strategy after the company began losing ground to competitors like Walmart Inc. WMT, -0.96%[2] and Amazon.com Inc. AMZN, -1.04%[3]
An expanded version of this report appears at WSJ.com[4].
Most popular on WSJ.com:
Friend of Dr. Ford felt pressure to revisit statement[5]
The first rule of Microsoft Excel—don’t tell anyone you’re good at it[6] ...
References
- ^ TGT, -0.38% (www.marketwatch.com)
- ^ WMT, -0.96% (www.marketwatch.com)
- ^ AMZN, -1.04% (www.marketwatch.com)
- ^ An expanded version of this report appears at WSJ.com (www.wsj.com)
- ^ Friend of Dr. Ford felt pressure to revisit statement (www.wsj.com)
- ^ The first rule of Microsoft Excel—don’t tell anyone you’re good at it (www.wsj.com)