Target is buying tech start-up Shipt in a bid to become a much more serious contender in the same-day delivery wars.
The discount retailer, looking to better compete with Walmart and Amazon.com, said on Wednesday, December 13, it was paying US$550 million in cash for Shipt in its biggest acquisition in recent history. As a result, it plans to offer same-day delivery from about half of its 1,800 stores by summer ahead of a roll-out to nearly the entirely fleet by next year’s Christmas season.
Shipt, which will become a wholly-owned Target subsidiary that will continue to do and solicit business from other retailers, works with chains such as Kroger and Costco Wholesale by making the specific items at any given store available online.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI