Masters of Scale Rapid Response: Target’s Brian Cornell: “I want to see retail survive this”
Apr 20, 2020
Brian Cornell, CEO of Target, shares how he’s steering the retail giant through the complexities of the pandemic. He discusses the necessity of adaptability, emphasizing that daily decisions are driven by safety and community needs. Cornell reveals Target's $300 million investment in employee support like back-up childcare and enhanced cleanings. He believes prioritizing his team translates to prioritizing customers. The conversation also reflects on transforming consumer behaviors and maintaining resilience in a shifting retail landscape.
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Rapid Shift to Crisis Mode
- Target's investor day in early March went from normal to national emergency in a matter of days.
- Consumer behavior shifted rapidly as travel bans, school closures, and the halt of major sports alerted people to the pandemic's seriousness.
Prioritize Team and Iterate
- Put your team's well-being first when navigating a crisis; prioritize health and safety.
- Iterate and adjust decisions daily, adapting to the changing environment.
Adapting to New Norms
- The pandemic introduced new consumer behaviors like social distancing, impacting retail operations.
- Measures like plexiglass dividers, floor decals, and mask-wearing became new norms in stores.