Following the example of Amazon and Walmart! Target launches paid membership service!

According to foreign media reports, the US retail giant Target recently announced that it will launch a paid membership service called "Target Circle 360" on April 7. Target's move is aimed at attracting more consumers and better competing with Amazon and Walmart.

Users who sign up for the service enjoy a range of benefits, including free same-day delivery on orders over $35, unlimited free two-day delivery, extended return windows, 5% off merchandise, and more.

According to reports, the registration fee for Target Circle 360 ​​membership is $99 per year. In order to attract consumers, Target has also launched a promotion for the membership plan. Before May 18, users who register for the service can enjoy a discount of $49 for the first year. After May 18, users who hold Target credit or debit cards can continue to enjoy the annual membership fee of 49 yuan.

It is learned that Target launched Target Circle 360 ​​based on its three existing membership loyalty programs - Target Circle, Target Circle Card and same-day delivery service provided by Shipt. The retail giant said that it will add more benefits to Target Circle 360 ​​in the future, such as exclusive partnerships and other experiences.

It is worth mentioning that in addition to adding paid membership programs, Target will also reorganize the free Target Circle loyalty program launched in 2019 to make it easier to use and add personalized features.

For Target and other retailers, paid membership programs are valuable because they bring in additional revenue and deepen customer loyalty. Target is turning to new revenue sources to try to boost sagging sales. Although the company's fourth-quarter earnings and revenue exceeded Wall Street expectations, its comparable sales have fallen for three consecutive quarters.

Target is a relatively late entrant into the burgeoning paid membership space. Amazon launched its Prime membership program in 2005, offering benefits such as free two-day shipping, streaming and original TV shows. It costs $139 a year or $14.99 a month, and video memberships cost $8.99 a month.

Walmart launched a plan called "Walmart+" in 2020. It costs 98 yuan per year or 12.95 yuan per month, and provides benefits including free delivery, free delivery on orders over 35 yuan, and gas discounts.

Editor ✎ Nicole/

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