Target on Tuesday said it will launch a paid membership program next month, riffing off the playbook of its rivals Amazon and Walmart .
The paid membership tier will launch in early April and initially cost $49 per year, Sylvester said.
Customers who have a Target Circle credit card will be able to pay the lower price of $49 per year beyond that.
The retailer will also relaunch its free Target Circle loyalty program, which debuted in 2019, to make it easier to use and more personalized.
It costs $98 per year or $12.95 per month, with perks like free shipping, free grocery deliveries for orders of at least $35 and gas discounts.
Persons:
riffing, Cara Sylvester, Sylvester, Jeff Bezos, Doug McMillon, John David Rainey
Organizations:
Amazon, Walmart, CNBC PRO
Locations:
New York City