2021 brought unique challenges, wins worth celebrating and plenty of opportunities for Target to shine for our guests, communities and each other. As always, none of it would be possible without the purpose and passion of our team. Join us on a journey through 2021 as we reflect on all that we accomplished, together.
Raising the bar
At Target, making a positive impact on people and the planet is at the heart of our purpose and culture. With the launch of Target Forward, we doubled down on our promise of co-creating an equitable and regenerative future together with our guests, partners and communities. We also worked extra hard to support our team members, including offering more recognition bonuses, debt-free degrees and more flexibility and reliable hours for our store team members.
Building on our foundation
During the year, we also remained focused on creating a unique shopping experience, fueled by the services our guests love. We more than doubled the number of Drive Up spots during the holiday season and made it easier than ever for guests to get a Target Run done safely and easily, no matter how they choose to shop. At the center of it all: our stores, including 32 new locations and reaching more than 800 remodeled locations.
In a year packed with supply chain challenges, we got creative to keep our stores well-stocked. We expanded our sortation center concept to new markets, helping stores fulfill even more orders as we continue to grow.
As our HQ team gradually moves toward a new hybrid work model, we reopened and revamped workspaces across our headquarters buildings in 2021 to give the team options that work for them.
And throughout 2021, our investments in our team, guests and communities led to strong financial growth on top of record growth in 2020. Our business model, along with our team’s year-long prep to deliver a joyful holiday season, propelled that continued success.
An only-at-Target assortment
We’ve continued to curate distinct products found only at Target. We joined hands (and built blocks) with long-time partner LEGO for a first-of-its-kind collection. We planted the seeds of a special partnership with plant enthusiast and interior stylist Hilton Carter. And we outfitted our guests in the latest styles with The Designer Dress Collection and Fall Designer Collection. Plus, we added amazing owned brands like Mondo Llama, Kindfull and Favorite Day.
And that assortment wouldn’t be the same without our partners who also help us create an only-at-Target experience, including Ulta Beauty at Target, Apple at Target and Disney Store at Target.
Breaking down barriers
In 2021, we continued making strides in our work to champion diversity, equity and inclusion. That included hosting our first DE&I Forum, where we shared Target’s journey toward greater diversity, equity and inclusion with over 1,500 other peers and partners on a similar path. And as we highlighted in our Workforce Diversity Report, we made progress in our commitment to increase Black representation across the company by 20% by 2023. As of now, 50% of our team members and 25% of our leadership team are people of color. In the year ahead, we’ll keep building on that foundation through education for everyone at the Bullseye and continued investments in Black team members, communities and entrepreneurs.
Investing in our communities
But the work doesn’t end there. Last year we made major moves in our Racial Equity Action and Change (REACH) work, including our commitment to spend more than $2 billion with Black-owned businesses, working with partners to ensure equal access to voting and investing $100 million to support Black communities by 2025. We also committed to spending 5% of our advertising budget with Black-owned media, and hit the ground running with a new partnership with REVOLT. And we increased support for Black students in innovative ways, from launching our new Target Scholars program to being a founding supporter of the PENSOLE Lewis College of Business & Design.
We’ve also made it easier for guests to identify and support women-owned brands on Target.com. Plus, we rolled out our first product collection from Latino creators and businesses during Latino Heritage Month, and expanded our military appreciation discount during Veterans Day in support of our troops and their families.
Taking care of tomorrow
As the pandemic continues, Target pledges to use our size, scale and resources to help communities persevere through the toughest of challenges. Whether by supporting our team in India and their families during the country’s pandemic surge in early 2021 or providing vaccine access to underserved communities, we are committed to bridging the gap between resources and those in need, creating a better future for all.
At the heart of it all...
… is our team and how we care, grow and win together. From our stores and distribution centers coast to coast to our headquarters teams in Minneapolis, Bengaluru and beyond, we’ll embrace these moments together, bringing joy and care to our guests, community and each other every step along the way.
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