Target Corporation is the second-largest discount store retailer in the United States, behind Walmart, and a component of the S&P 500 Index. Founded by George Dayton and headquartered in Minneapolis, Minnesota, the company was originally named Goodfellow Dry Goods in June 1902 before being renamed the Dayton's Dry Goods Company in 1903 and later the Dayton Company in 1910. The first Target store opened in Roseville, Minnesota in 1962 while the parent company was renamed the Dayton Corporation in 1967. It became the Dayton-Hudson Corporation after merging with the J.L. Hudson Company in 1969 and held ownership of several department store chains including Dayton's, Hudson's, Marshall Field's, and Mervyn's.
Target established itself as the highest-earning division of the Dayton-Hudson Corporation in the 1970s; it began expanding the store nationwide in the 1980s and introduced new store formats under the Target brand in the 1990s. The company has found success as a cheap-chic player in the industry. The parent company was renamed the Target Corporation in 2000 and divested itself of its last department store chains in 2004. It suffered from a highly publicized security breach of customer data and the failure of its short-lived Canadian subsidiary in the early 2010s but experienced revitalized success with its expansion in urban markets within the United States.
|Products||Beauty and health products; bedding; clothing and accessories; electronics; food; furniture; housewares; jewelry; gardening supplies; pet supplies; shoes; sporting goods; toys/games; small appliances; Office Supplies; Books|
|Founded||June 24, 1902; 114 years ago (1902-06-24) (as Goodfellow Dry Goods) May 1, 1962; 55 years ago (1962-05-01) (as Target) January 14, 2000; 17 years ago (2000-01-14) (as Target Corporation) Minneapolis, Minnesota, U.S.|
|Formerly called||Goodfellow Dry Goods Dayton's Dry Goods Company Dayton Company Dayton Corporation Dayton-Hudson Corporation|
|Headquarters||Target Plaza North Target Plaza South 1000 Nicollet Mall, Minneapolis, Minnesota, U.S.|
|Key people||Brian C. Cornell (Chairman and CEO) John Mulligan (EVP and COO)|
NPS is a customer loyalty metric that measures customers’ willingness to not only return for another purchase or service but also make a recommendation to their family, friends or colleagues.
It is a powerful and effective technique, which can greatly increase a company's revenue if used properly.
The main advantages of NPS are close correlation with a company's growth and easy collection, interpretation and communication of the data.
Yes, it is.
Net Promoter Score is a number from -100 from 100.
Scores higher than 0 are typically considered to be good and scores above 50 are considered to be excellent.
The industry average for Consumer Brands / Retail/E-tail is 50.
The final Net Promoter Score of a company strongly depends on a context in which the satisfaction is measured.
Consider an example: If Target sends out NPS surveys immediately after purchase, they are tracking their customers' initial excitement and the checkout experience.
On the other hand, if they survey their customers a few weeks after the purchase they are also tracking how satisfied their customers are with their products and services over time.
Therefore, comparing the NPS score of Target with your own without any further context is not that useful.
What is extremely useful though, is using the NPS methodology to track the satisfaction of your customers over time. That's where Customer.guru comes in.
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