Dive Summary:
- Popular department store Target will release its new line of organic and natural food products this week called Simply Balanced, as the company attempts to keep up with the rising popularity of organic foods.
- The new product line will eventually contain over 250 food products within the next five months, and will boost the company’s overall organic food selection 25% by 2017, according to a source.
- The new line may also be an indicator of stores working to improve the image of store brand products. Organic foods account for less than 10% of sales but continue to grow at double the pace of conventional groceries.
From the article:
About half the items in the line are organic and three-quarters of it is free of genetically modified ingredients. Target says it will eliminate all genetically modified ingredients from the line by the end of 2014. Groceries tend to have lower profit margins for Target than other parts of its business. But the retailer has nevertheless been touting its groceries in recent years as a way to attract more shoppers and become a "one-stop" shopping destination.
