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Target sheds Target Commercial Interiors

BY Antoinette Alexander

MINNEAPOLIS — Target's transformation continues as the retailer announced on Thursday that it will sell Target Commercial Interiors, a subsidiary that provides office furnishings and related services for business and commercial clients.

Minneapolis-based Omni Workspace Co., more commonly known as A&M Business Interior Services, will acquire TCI and operate it as a wholly owned subsidiary. TCI will be renamed following the completion of the acquisition.

Omni Workspace will retain TCI’s downtown Minneapolis headquarters and will continue to operate the six additional TCI furniture showrooms and offices throughout Arizona, Illinois and Wisconsin. TCI’s leadership team will remain in place, and its employees will become part of Omni Workspace.

“Target is continuing to drive our transformation by focusing on our core businesses and putting our guests at the center of everything we do. Target Commercial Interiors has a rich history and a great track record with clients, but its business model is tailored to commercial customers. The decision to exit a business is always difficult, but we are thrilled that TCI will remain in Minneapolis,” stated Target CFO John Mulligan.   

TCI supplies office furniture to Target’s Minneapolis headquarters and its other offices around the country, and will remain a vendor partner to Target.  
 

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Survey: Millennials, men receptive to mobile payment

BY Dan Berthiaume

ALLENTOWN, Pa. — Mobile payment is growing, and millennials and men may be leading the way. According to a recent survey of 1,000 U.S. adults by Harbortouch examining the current state of mobile payment adoption shows that millennials were the highest percentage of mobile payment users, with nearly 42% falling into that demographic.
 
In addition, men are twice as likely to use some form of mobile payment compared to women. Of those surveyed who aren't currently using mobile payments, 20% blame payment-related issues.
 
And out of seven categories, including entertainment and retail, one-in-four people chose the restaurant industry as the most likely to widely adopt mobile payments in the near future.
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Walmart to test free online shipping

BY Dan Berthiaume

BENTONVILLE, Ark. — Walmart will test a free online shipping service in summer 2015 that will serve as a competitor to the Amazon Prime service from Amazon.com. The service will only cost $50 for a year’s subscription, as compared to $99 for Amazon Prime.
 
The service will initially launch by invite only and offer more than one million top-selling items from Walmart’s seven million-plus-item online assortment. Shipments will arrive in three days or less. It will not initially provide streaming digital content, as opposed to Amazon Prime, but Walmart will alter the program based on customer feedback.
 
A Walmart spokesperson said the service is in response to increased customer demand for predictable and affordable shipping and convenience, as well as to the growing number of consumers who research and purchase products online, according to the Associated Press.
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