Target has since been one of the big players in the world of commerce with 1931 stores in the USA and $93.6 billion in total revenue as of 2020. However, with the rise of online retail and ecommerce, Target has established the Target Plus marketplace, following in the footsteps of brands like Walmart and Amazon.
The Target marketplace is an exclusive, invite-only online marketplace that caters to third-party retailers.
As a Target marketplace seller, you will be part of a group of handpicked trusted brands on the Target Plus platform, getting access to a wide audience without the fierce competition that comes with selling on other platforms like Amazon.
In this article, we will go through all you need to know about how to increase sales and profit on the Target Plus marketplace.
Target Plus is a top ecommerce platform that serves third-party sellers. Target joined the ecommerce space in February 2019, allowing third-party retailers to sell on Target marketplace.
What makes the Target Plus marketplace unique and different from other online marketplaces is its exclusivity. Target Plus is an invitation-only platform, meaning that Target Plus only partners with selected third-party retailers. In simpler terms, it means you have to wait for Target to reach out to you before selling on the platform.
The platform aims to offer customers a wide range of high-quality products from a range of top-tier national brands.
Target seems to be open to receiving applications in the future. However, the online marketplace remains an invite-only platform for now.
As we mentioned earlier, Target hand-picks third-party sellers and brands they want to partner with. Target takes third-party sellers through rigorous screening to ensure that the quality of products available on the platform is maintained.
Although Target plans to accept a few sellers under the same category, Target prohibits numerous sellers that list the same product category. This gives the early investors a chance to gain market share.
Here are the requirements for selected Target marketplace sellers:
Sellers also have to meet the following Image requirements:
Selling on Target Plus might be bad news for newbies because of its exclusivity. But what are the benefits that come with being invited to sell on the Target marketplace?
Unlike other marketplaces that allow sellers to apply on-site, Target is an invite-only platform, meaning that sellers have less competition to deal with. You can easily climb up the ladders and increase sales and revenue.
Target falls as the 10th largest retailer in the United States. Being a household name, Target holds a measure of trust amongst consumers. This means you have access to Target’s loyal customers, making it easy to double up sales and increase online business revenue.
Because Target Plus is an invite-only platform with a limited number of sellers under each product category, you can easily gain market share if you are an early investor.
Target Plus allows you to build and customize your storefront. There are also no hidden charges or fulfillment fees. You will only need to pay referral fees that fall between 5 and 15%.
Target requires that you ship products by yourself. However, they handle all returns for your business.
Target Plus is not only a trusted brand amongst consumers, but Target Plus also offers benefits to buyers. Buyers who apply for a RedCard get 5% off all items in the store. They also get free shipping for most products sold on Target.
Target will have to ask you to become a seller. There are no application processes or waiting lists at the moment. However, you can improve your chances of being selected by Target Plus if you position yourself properly. Let’s look at a few ways you can stand out and possibly get an invitation sooner than you think.
Target looks out for well-established businesses in the US for Target Plus. This means that to increase your chances of being selected by Target, you need to focus on building a good reputation in other online marketplaces.
To do this, focus on selling high-quality products at affordable prices to attract customers to your brand. Optimize your product listing using SEO and other online marketing strategies for increasing sales and revenue. Ensure you offer fast shipping to get your products to customers as fast as possible. Also, offer great customer service by attending to customer complaints as quickly as possible. This will attract positive reviews, improved rankings, and increased customer retention.
The Target Plus marketplace focuses on offering high-quality products that are carefully hand-picked from selected brands. While there are no specifics from Target on what type of product is considered during selection, it is important to keep the following in mind when sourcing your products:
To get noticed by Target Plus, your brand needs to be up and coming. Strive to get on fast shipping programs and implement online marketing strategies that get your brand to the top of search results.
Optimize your brand for Google using SEO techniques. Lastly, improve your social media presence. Create a social media account and if possible, set up a social media shop. For example, you could set up an Instagram shop for your clothing brand.
Target Plus requires that you shop orders within 24 hours and customers to receive orders within 5 days. It is important to set up a fulfillment infrastructure that delivers orders as fast as possible. The shorter the delivery time, the more attractive you are to Target Plus.
Target Plus is an exclusive marketplace with massive potential. If you are not selling on Target Plus, you may consider building your brand to increase your chances of getting invited by Target. Who knows? You just might be one of those brands who get accepted once Target begins to accept applications in the future.