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Leadership challenges have also come under scrutiny. CEO Brian Cornell's planned retirement in 2025, coupled with the absence of a succession plan, raises concerns about continuity in management. Some critics allege a lack of transparency from Target’s leadership regarding its struggles.
Nonetheless, experts also suggest that Target does not need to radically change its identity to regain consumer loyalty. Rather, it should focus on enhancing the store environment and investing in strategic partnerships, maintaining its prestige in fashion, and ensuring an attractive product selection.
To reclaim goodwill, Target must communicate a clear vision and strategic direction to all stakeholders, while balancing the affordability consumers are seeking.