When big box store retailer Target came out with their “transgender” rest room policy in 2016, a large scale boycott began in the United States. Millions of Americans decided to spend their money anywhere but Target – no matter how convenient the place might be – for fear of women, wives and daughters walking into a woman’s restroom and getting raped. In no time, Target’s stock price dropped losing $10 billion in value on Wall Street in the succeeding months.
This week, Target announced that the retailer would be shelving a couple of high price initiatives:
First, is something called the “Store of the Future,” a sort of concierge shopping concept where the front end of the retailer would be smaller, customers would place their orders, and in an out of sight warehouse, robots would gather a customer’s items and bring them to the front. (Decades ago stores like this actually existed, although humans did the merchandise fetching.) That project was also going to feature meet-ups, and work e-commerce items into the store front mix.
The other initiative circling the drain is codenamed “Goldfish” and was to be a system by which other retailers could sell their products through Target, thus making them the middle man…and a way for them to get a cut of other retailers’ profits, undoubtedly.
As for what Target has to say…the usual public relations clap-trap. From Breitbart:
At Target, we regularly pause to evaluate our business and have to make tough choices about where our company is best served to invest our time and resources. We recently made some changes to the innovation portfolio to refocus our efforts on supporting our core business, both in stores and online, and delivering against our strategic priorities. Target remains absolutely committed to pursuing what’s next. We see a tremendous opportunity to drive innovation in areas that will fuel our growth both in the short and long-term in areas such as digital, technology, supply chain and merchandising.
Or, as most Americans who recognize a company’s stock losing over 20% in value in less than a year would put it: we don’t have the cash to fully develop what we had in the pipeline.