"Beginning with a beta launch next week, customers will be able to tag Target in ChatGPT and describe what they need. For instance, a request like "Help me plan a holiday movie night" will prompt ChatGPT to build a shopping cart with products from Target, such as snacks and blankets. Once the cart is ready, shoppers will be directed to the Target app to complete their purchase."
"This new "conversation curation" feature blends AI suggestions with Target's products, making shopping feel like a natural extension of how people already use ChatGPT for ideas and planning. Target will also roll out ChatGPT Enterprise, using OpenAI's models to improve supply chain forecasting, streamline store operations, and enhance digital tools. These moves signal Target's efforts to make AI a key part of its turnaround strategy."
"Target has been struggling with falling sales and declining profits, reporting nearly a 3% drop in same-store sales in its most recent quarter. By partnering with OpenAI, the company aims to attract younger, tech-savvy shoppers and boost sales amid tough economic conditions and rising competition. Importantly, TGT joins a growing list of retailers, including Walmart (WMT), Etsy (ETSY), and Shopify (SHOP), that are partnering with OpenAI to bring AI into e-commerce."
Target partnered with OpenAI to integrate a Target app into ChatGPT, enabling shoppers to browse, build carts, and check out through natural conversations. A beta launch will allow customers to tag Target in ChatGPT and describe needs, prompting ChatGPT to assemble shopping carts with Target products and direct shoppers to the Target app to complete purchases. A "conversation curation" feature will blend AI suggestions with Target's inventory. Target will deploy ChatGPT Enterprise to improve supply chain forecasting, streamline store operations, and enhance digital tools. The company aims to attract younger shoppers and reverse sales declines amid rising retail competition. TipRanks lists a Hold consensus for TGT.
Read at TipRanks Financial
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