It is not a secret that e-commerce sales are growing fast in the US, but physical stores will always play a pivotal role in a retailer’s overall strategy, Target CEO Brian Cornell told CNBC on Thursday. “The winning retailers of the future are going to combine great physical assets with the ease that comes along with that digital interaction,” Cornell said on “Squawk Box.”
Over half of Target’s digital sales growth is enabled by stores, Cornell explained. That includes shoppers ringing up purchases online before picking them up in person, or shoppers browsing Target’s aisles before buying something from Target.com
Target now has more than 1,800 locations, including 276 stores larger than 170,000 square feet. It has 44 stores smaller than 49,999 square feet and plans to have more than 130 such small-format stores by 2019.
“We want to make Target the easiest place in America to shop” no matter whether a shopper wants to buy online or at the store, Cornell said.