Target is shrinking to attract Millennial shoppers.

Target is shrinking to attract Millennial shoppers. A new fleet of stores less than 15% of the size of an average location are being opened in cities and college towns to counteract declining traffic and sales at Target’s “largely suburban stores.” The new spots will focus on products made for dorm life, including “miniature ironing boards and twin-size sheets,” and ping pong balls located “near the beer.” While Walmart’s attempts to go small ultimately failed to bring in consumers, Target is planning to customize each store to “cater to local tastes.” (Wall Street Journal)