Target Industry Analysis Essay

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Recommended: Importance of product quality to the consumers and business

The retail industry is constructed by many laws and regulations. These include Employment laws (example: minimum wage), Financial regulations, Food Safety standards (example: labelling), Privacy and information security laws, Government taxes and Environmental protection laws. As these laws and regulations are subject to change frequently is affects the industry significantly with increasing spending. Target Corporation has hit heavy with law suits tainting its reputation several times, most of them are related to discrimination against the blind, LGBT and race. These have damaged many dealings and brand image for the customers.

Socio-cultural Factors

Target believes in supporting communities and this has helped to strengthen the appeal of the brand image and the company’s reputation. To do so they employ hospitable business strategies, a diverse and highly skilled work force, and offers products of various tastes and lifestyles. Target and its rivals follow through …show more content…

Target, being a discount retailer has few but tough competitors. Walmart, Sears, Home Depot and Costco are among the list of few giants, thereby this market represents an oligopoly in U.S.A. In a similar case, Canada has a strong retail industry with competition like Walmart, Loblaw’s and Sobeys. They remain as competitors because of their similar services and products with little differentiation, so they compete mainly by price. One of the biggest drawbacks that makes its competition stand out is that fact that Target remains within U.S.’s borders and the company’s obsession over quality goods (which increases price against the liking of the target market). There is little room for new competition because the tightly knit market share. Apart from the competition, there are trade regulations, restrictions and good distribution channels. Yet one the biggest barrier, is the large capital that could support the new

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