Current:Home > InvestCould Target launch a membership program? Here's who they would be competing against -AssetScope
Could Target launch a membership program? Here's who they would be competing against
View
Date:2025-04-26 06:28:36
Target is considering offering a paid membership program that could launch this year, according to Bloomberg.
Internally labeled "Project Trident," details on the program were scarce but Bloomberg reported that it would include benefits beyond Target's current free membership program (Circle) and could incorporate the company's delivery service (Shipt).
USA TODAY reached out to Target for comment and did not receive a response.
If the company goes through with the project, it would be a late entry into the paid retail membership market, as Walmart and Amazon have offered benefits to members through their Walmart+ and Amazon Prime programs. The company would also be competing against membership warehouses Costco and Sam's Club — a Walmart subsidiary.
Target said that comparable sales declined 4.9% in the third quarter of 2023 though operating income increased 28.9% due to a "higher gross margin rate" in its third quarter earnings report.
Here are some of the players Target will compete against if it launches a membership program.
Purchases you make through our links may earn us and our publishing partners a commission.
Retail membership details
Costco
- Plan: Gold Star
- Price: $60 per year
- Benefits:
- Warehouse access
- Costco Fuel access
- Free household card
- Access to Costco services
- Plan: Executive
- Price: $120 per year
- Benefits:
- All benefits of Gold Star
- Annual 2% reward on qualified purchases
- Free household card
- Access to Costco services
Costco generated $4.6 billion in membership fees from nearly 128 million members, according to the company's 2023 Annual Report.
Walmart
- Plan: Walmart+
- Price: $12.95 per month or $98 per year
- Benefits:
- Free delivery from store ($35 minimum)
- Free shipping
- Fuel discounts
- Paramount+
- Free flat tire repair
- Free road hazard warranty
- Returns from home
Walmart reported that it made $5 billion in operating income from US stores and that the company had "increased Walmart+ membership income" in its third quarter earnings report. USA TODAY reached out to Walmart regarding Walmart+ revenues and did not receive a response back.
Sam's Club
- Plan: Club
- Price: $50 per year
- Benefits:
- Warehouse access
- Free flat tire repair, battery testing & wiper blade installation
- Fuel discounts
- Same day delivery ($12 fee)
- Plan: Plus
- Price: $110 per year
- Benefits:
- All benefits included in Club
- Early shopping hours
- Free curbside pickup
- Free shipping
- Pharmacy discounts
- Optical discounts
- Same day delivery ($8 fee)
While the company did not disclose the amount of revenue that the Plus tier generates, Walmart's third quarter earnings report pointed to the upper tier as a part of the company's 7.1% growth in membership revenue from Sam's Club.
Amazon
- Plan: Prime
- Price: $14.99 per year or $139 per year
- Benefits:
- Free One-Day and Same-Day Delivery
- Prime Video, Reading, Gaming and Amazon Music access
- Free one-year GrubHub subscription
- Merchandise discounts
Amazon included Amazon Prime revenue in the $10.5 billion subscription service category in the company's fourth quarter 2023 earnings report.
Target Stock Price
veryGood! (819)
Related
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- New York police agree to reform protest tactics in settlement over 2020 response
- Why Miley Cyrus Say She Didn’t Make Any Money From Her Bangerz Tour
- New York Fashion Week is coming back! Sergio Hudson, Ralph Lauren, more designers to return
- Residents worried after ceiling cracks appear following reroofing works at Jalan Tenaga HDB blocks
- 5 killed, 3 injured in Atlanta crash that shut down I-85
- Wet summer grants big cities in hydro-powered Norway 2 days of free electricity
- A thrift store shopper snags lost N.C. Wyeth painting worth up to $250,000 for just $4
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Car slams into fire truck in Los Angeles, killing 2, sending 4 firefighters to hospital
Ranking
- Don't let hackers fool you with a 'scam
- Biden's new student debt repayment plan has 4 million signups. Here's how to enroll in SAVE.
- As sports betting spikes, help for problem gamblers expands in some states
- What are healthy fats? They're essential, and here's one you should consume more of.
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- Minnesota seeks unifying symbol to replace state flag considered offensive to Native Americans
- Mark Meadows, John Eastman plead not guilty and waive arraignment
- Owner of collapsed Iowa building that killed 3 people files lawsuit blaming engineering company
Recommendation
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
Jimmy Buffett died from Merkel cell skin cancer. What to know about the rare skin condition.
Why Chase Chrisley Says He'll Never Get Back Together With Ex Emmy Medders After Breakup
Fan accused by player of using Hitler regime language is booted from U.S. Open
SFO's new sensory room helps neurodivergent travelers fight flying jitters
Naomi Campbell Just Dropped a Surprisingly Affordable Clothing Collection With $20 Pieces
YSE Beauty by Molly Sims Is Celebrity Skincare That’s Made for You
Why Whoopi Goldberg Missed The View's Season 27 Premiere