Finance

Target Leaps into Last-Mile Delivery with Latest Acquisition

Target Leaps into Last-Mile Delivery with Latest Acquisition”

The discount retailer announced Monday that it has agreed to acquire tech start-up Grand Junction, whose software manages local deliveries using a network of about 700 carriers. The software company also enables payment processing, visibility and operations dashboards. Grand Junction already takes care of the same-day delivery Target is piloting at its Tribeca store in Manhattan.

In an interview, Arthur Valdez, Target's chief supply chain and logistics officer was quoted as saying, "Speed matters".

Target is transforming its supply chain and logistics capabilities so we can serve guests with more speed and convenience, while creating new offerings and services.

Why did Target decide to acquire Grand Junction? According to the disclosed terms of the deal, any retailers' contracts with Grand Junction will be allowed to reach their end and will not be renewed.

With Grand Junction, Target could get deliveries to customers faster.

According to the company's website, Grand Junction is the only provider of same-day delivery in every market in the U.S. and Canada, allowing leading retailers, 3PLs, distributors, and start-ups to offer local delivery through its technology platform and network of 700 local carriers.

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Last June, Target said that a pilot program for the Minneapolis area had been established for delivering essential household items like laundry detergent and pet food in less than one business day.

Target announced that same-day deliveries would be expanded to include stores in NY during the fall and to other large cities in 2018.

Once the purchase has been completed, Target plans to fold the company into its technology unit.

Target has adopted several measures aimed at accelerating its sales growth, including a focus on digital business, small-format store openings, supply-chain reinvention, and the remodeling of large stores.

It said the company will become a part of the company's technology unit and said Grand Junction will stop working with other retailers when those contracts end. Target hopes to deliver on both fronts.



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