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Credit: Disney This past weekend’s D23 Expo was met with major announcements for all-things Disney–including the reveal of a brand-new partnership that will result in 25 new Disney stores being featured in Targets nationwide.
Yes–you read that right, new “shop-in-shop” Disney stores will be popping up in Target stories where guests will be able to browse over 450 Disney items, including more than 100 products that were previously only available at Disney retail locations. The news was revealed during the Disney Parks panel as part of Disney’s attempt to make Disney merchandise from the parks even more available to the public.
“Disney is among our largest and most admired [brand] relationships,” Target CEO Brian Cornell said on a call with members of the media. “We have spent a lot of time thinking about how to grow.”
When these stores launch in October, Target shoppers will have exclusive access to this specialty merchandise that they will not be able to find at any other major retailers. Shoppers at Walmart, Kohls, and some of Target’s other competitors will not have access to this same merchandise. Whether or not this will hurt their competitor’s sales remained to be seen. However, what it does for Disney is bring their exclusive in-park merchandise to more people on-foot in a physical store than ever before.
And what’s even more beneficial about this partnership for Disney is the fact that the first batch of stores opening in Target will feature an assortment of themed merchandise after some of Disney’s biggest upcoming movie releases. These include the highly-anticipated “Frozen 2” and “Star Wars: The Rise of Skywalker.”
Disney told CNBC News that the shops will sell collectible merchandise like dolls and apparel from its Disney Animator’s Collection. Additionally, the company explained that the Disney stores within Target will be staffed by Target employees, who will be receiving special training ahead of the openings.
Target told the outlet that many items within the shops will be under $20. However, some can range as high as $200. Many shoppers who frequent the store visit on a weekly basis. The likelihood of these customers browsing with their children could result in casual purchases which could mean big return for both Target and Disney.
For those wondering why Disney would choose Target for this relationship over some of the many other major brick and mortar stores–the chairman of Disney Parks Bob Chapek revealed, “People who own Disney gear or visit Disney theme parks are likely people who also shop at Target. There’s about a 90% overlap between the two company’s customers.”
If this statistic is true, then this partnership could be a match made in themed merchandise heaven for Disney. Although, at this time we’ll have to wait and see how big these mini-stores become for both companies.
The stores are set to launch nationwide October 4, with 40 additional locations opening by October 2020.
What are your thoughts on Disney teaming up with Target for these new “shop-in-shops” to be featured in their stores? Let us know in the comments below!
Source: CNBC