Retail giant Target is taking aim at Millennials with its new home décor and accessories line, Made By Design. With economy-minded price points that still delivery style and function, the collection has over 750 items to choose from covering everything from bedding and bath, to cookware, dinnerware, furniture and more. Target’s Made By Design has a tag line that reads “Everyday ingenuity that’s a joy to use”. The new line invokes a clean, simple aesthetic that is affordable and pleasing to the eye.
Launching both online and in stores on June 23, 2018, Made By Design is organized into six different categories: Home Décor, Furniture, Bath, Bedding, Organization and Kitchen & Dining. Beginning with items listed for as little as $ 2, the majority of the products stay under the $ 30 mark. Much of the furniture is more expensive, as to be expected, but not priced out of reach for young professionals and first-time home dwellers.
Based on detailed research of shoppers’ spending habits in the home department at Target, the new line addresses shoppers looking to furnish, update and add to their first apartments and new homes. Target invested heavily in research and findings show that shoppers would purchase some decorative items but leave the store and shop elsewhere at other large retailers like Kohl’s, Bed, Bath & Beyond, Walmart and IKEA for larger items and home furnishings.
Home Furnishings represented 19 percent of Target’s annual revenue in 2017 and the retailer aims to increase that number with this new line. Target spared no expense in researching the kind of basic product designs and features customers wanted most in their homes. The company claims developing this product line was “the most extensive guest research we’ve ever done.” It’s an investment that stands to have big pay offs, with the 75 million 20- and 30-somethings who now outnumber Baby Boomers in the U.S. and have tens of billions of dollars in spending power.
The goal is to increase market share with the new line, and to capture guests who might spend their dollars elsewhere for the majority of their home accessories and décor. According to the organization “guests – especially those establishing their first homes – crave quality everyday items that will simplify their lives and complement their ever-evolving style – all without compromising affordability.”
Affordability will not be compromised here. Everyday ingenuity can be found in everyday items including those such as stemware ranging from $ 2 up to $ 11, bake ware beginning at $ 7, and dinnerware in the $ – $ 20 price range. Cookware has some pricier items for stainless steel pots like the 6-quart stockpot, selling for $ 35. Solid color bedding sheet sets are reasonably priced and fit the back-to-basics aesthetic. Rugs, in solid colors and simple designs also fall into line with the overall look and feel of the collection. Simple wood shelving, desk and side tables are clean and lean and very affordable. Matching organizational bins and boxes are also important items to new home owners who want to keep things simple and their lives in order. The furniture line has limited items such as wooden shelving, side tables, bedside tables and chairs.
Under the direction of Mark Tritton, executive vice president and chief merchandising officer who joined the company in 2016 after serving as president of Nordstrom Product Group, a group of in-house designers were directed to create the line. “Made By Design is the ultimate expression of our DNA – a commitment to democratization of impeccable design,” he said.
Target is betting a lot on the success of the Made By Design product line. It is one of three new product lines that CEO Brian Cornell promised in the 2017 annual report letter are “on pace to generate more than $ 1 billion each in annual sales.” Reaching millennials may prove to be tricky. According to the marketing company Kissmetrics, 89 percent of millennials trust recommendations from friends and family more than claims by the brand.
The new line will join Target’s classic Threshold furniture and furnishings product line, which reportedly does $ 2 billion in sales a year, as well as its mid century modern Project 62 line. The Made By Design looks are designed to seamlessly blend with all its other home product lines, such as Hearth & Hand with Magnolia.
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