Target Cuts Back On Innovation, Abandons ‘Store Of The Future’ Project
Target has canceled its ambitious “Store of the Future” project after a poor performance this holiday season.
The futuristic stores were designed to be smaller, staffed primarily by robots and to include space for community gatherings, Engadget reports. Similar to Amazon’s revolutionary cashier-free store, Target’s project hoped to incorporate the physical shopping experience with e-commerce.
Target also terminated its other innovative project, which planned to build a new online marketplace, known as Goldfish, to compete with Amazon. The retailer said it slashed both projects after the holiday season’s disappointing results forced the firm to make tough choices. [Engadget]