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Target’s private-label brand, up&up, is getting an overhaul, with new product formulas, expanded selection, and new packaging.
The relaunch comes as Target continues to pitch itself as a destination for affordable essential items amid declining sales fueled by a pullback in spending on discretionary goods. The initiative will reformulate 40% of the brand “to meet new, even higher quality standards” and cover 2,000 items, most of which cost under $15, according to the company.
- Examples include longer-lasting toothbrushes, more durable food storage containers, and new scented options for a number of product categories, such as household cleaning, pet products, and bath and body.
“Our up&up brand is already incredibly popular, generating nearly $3 billion in sales every year—and with this expansion, we’re giving even more guests reasons to choose Target for their household essentials,” Rick Gomez, EVP and chief food, essentials, and beauty officer, said in a statement.
The retailer said private-label brands contribute to $30 billion in annual sales, more than a quarter of its total sales, based on full-year earnings for 2022. While Target has long relied on private-label brands, the company has recently expanded a number of private-label product categories.
Target is also weighing whether to launch a paid membership program along the lines of Walmart+ or Amazon Prime, per a Bloomberg report citing anonymous sources.