Target is launching a new brand to its grocery aisles. Favorite Day joins the retailer’s portfolio to bring a range of food and beverage products that targets sweet and savory indulgences.
“We’re thrilled to build on Good & Gather’s success and the strength of Target’s food and beverage business by debuting our new owned brand, Favorite Day,” said Rick Gomez, Executive Vice President and Chief Food and Beverage Officer. “Rooted in guest insights and developed by our talented Target team, Favorite Day is a sweet and savory addition that tastes amazing, makes life’s little moments of indulgence even sweeter, and continues to differentiate Target’s owned brand portfolio.”
According to the company’s release, the brand will feature more than 700 items across bakery, snacks, candy, premium ice cream, cake decorating supplies, beverage mixers, mocktails, and more. The new line is set to roll out on April 5.
Target’s Good & Gather brand focuses on real-life necessities such as dairy, produce, ready-made pastas, meats, and more. With Favorite Day, Target is honing in on shoppers’ demands for sweet and savory treats.
The retailer’s team of food scientists and developers crafted dairy-free frozen dessert bars, caramel macchiato trail mix, mini everything bagel croissants, and more to meet the rising demands in two new product lines. Favorite Day Bakery offers a variety of assorted baked goods including cupcakes and breads. On the other hand, Favorite Day Gourmet is a collection of sweets spanning ice cream, baked goods, and more.
As noted in a report by CNBC, groceries are less profitable than other merchandise that Target sells, but they drive traffic. Target has tried to differentiate from competitors and improve margins by introducing exclusive brands across merchandise categories, including food and beverage. Good & Gather generated about $2 billion in sales last year.
Retailers starting private label brands continues to be a major talking point in the industry. On behalf of the suppliers within the specialty food industry, a retailer’s private label launch may mean they’re unable to form a new partnership with that buy-side partner. For retailers, it’s another way to drive revenue and accelerate growth within their own sector.
We here at Deli Market News will continue to keep a pulse on the newswire and cover the latest as retailers shift and adapt to changing consumer demands.