Target Goes All Natural With New Organic, Sustainable Product Line
Target (NYSE:TGT) is looking to dig deeper into the health and wellness market now that more and more consumers seek to live healthier lifestyles. Fierce Retail reported Thursday that the retailer is partnering with 17 existing brands to expand its line of natural, organic, and sustainable products it calls “Made to Matter – Handpicked by Target.” Featuring 120 products that are sold exclusively at Target, the company is collaborating with a number of different vendors including Method cleaning products, Chobani Greek yogurt, and Burt’s Bees health and beauty products.
Back in January, Target already launched the Simply Balanced collection in its food section, which is a new organic and natural store brand, but now, Target is extending its natural offerings beyond food, and marketing baby, beauty, grocery, healthcare, and household items under the Made to Matter label. According to Fierce Retail, prices on the products will range between $1.99 to $24.99 and the featured goods will be displayed in aisles that highlight the new Made to Matter logo.
Many analysts expect the new line to facilitate significant success for Target, as more consumers are now interested in buying more natural and organic goods, and while those products used to be exclusive to specialty stores like Whole Foods (NYSE:WFM), Target may soon realize success by selling them exclusively at a lower price point. According to Forbes, Kathy Tesija, executive vice president of merchandising and supply chain, explained at a Target meeting this week that natural, organic, and sustainable products are growing at a 15 percent to 20 percent rate at the retailer, and that compares to the 10 percent industry average. In addition, because most Target shoppers (97 percent) already buy at least some natural, organic, or sustainable products at the retailer, executives believe they will buy even more when given the opportunity.