It’s a digital world, and retailers must do a whole lot more than just live in it.
According to a recent Deloitte study, digital interactions with brands influence more than $1 trillion in retail sales. Yes, you read that correctly — we said a trillion dollars!
That explains why digital transformation is one of Target’s top three priorities.
“We need to accelerate our digital transformation and become a leading omnichannel retailer,” said interim CEO John Mulligan during last week’s earnings call. “To do this, we will move quickly to become more flexible in how we serve our guests, eliminating barriers that prevent them from shopping with us where and when they want.”
To help think big about re-inventing retail, the Bullseye enlisted a group of big thinkers for a new Digital Advisory Council. The council consists of four tech superstars: Match.com CEO and OkCupid founder Sam Yagan, Orbitz Worldwide’s Roger Liew, Bain Capital Ventures’ Ajay Agarwal and Accompani CEO/former Google Analytics lead Amy Chang.
The council will help accelerate innovation and guide Target’s digital strategies and plans to use technology to enhance and transform the experience for Target guests — both online and in stores.
We tagged along with council member Sam Yagan — the guy who “disrupted” study guides with Spark Notes and then online dating with OkCupid — on a Chicago CityTarget tour where he talked with us about the new council and exciting changes to come at Target.
Below, hear what council members had to say about innovation and digital disruption during a recent visit to Target headquarters.
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