Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperature
BelGioioso - Burrata & Stracciatella
Target Alters Vendor Payment Policies

Target Alters Vendor Payment Policies

Monday, July 31st, 2017

Target suppliers, last weekend marked a new change in how the Minneapolis-based retailer makes its payments. According to a report from CBS Local WCCO, Sunday, July 30 was the first day Target went by its new payment policy—paying vendors for items later and at a considerable discount.

As explained by the source, some vendors will now be paid for their items 30 days later, a time period WCCO notes is at least twice as long as before. Target will also reportedly take a 2-percent discount across the board. The retailer said it will be updating and standardizing its terms to simplify the payment process and to help both itself and vendors operate more efficiently.

Joshua Thomas, Senior Director of Communications, Target

“In May, we notified a number of our vendors that Target would be updating and standardizing our payment terms, effective July 30,” said Joshua Thomas, Senior Director of Communications for Target, in a statement to WCCO. “These updates simplify the payment process and are aimed at helping us and our vendors operate more efficiently. A standardized approach like we are implementing is consistent with retailers of Target’s size and scale across the industry. We don’t anticipate these updates will have any impact on guests who shop at Target.”

Target store

Back in May, Reuters published an article which claimed that Target would be “cracking down on its relationships with suppliers,” tightening deadlines for its deliveries and increasing fines for those who miss the deadline. According to the source, this is a similar plan to one that Walmart and Amazon have already put into practice.

Will this method of vendor payments become the industry norm as more and more large-sized operations adopt the plan? Deli Market News will continue to report.


Eiffel Tower - A creamy cow’s milk delight, featuring a chalky white rind and a cream-colored, buttery, soft interior that oozes when at the peak of ripeness and temperatureBelGioioso - Burrata & Stracciatella

Have a new product, press release or story idea?

Let us know

In This Story

Minneapolis-based Target Corporation (NYSE: TGT) serves guests at 1,816 stores and at Target.com. Since 1946, Target has given 5 percent of its profit to communities, which today equals millions of...

American Butter Institute Urges FDA to Address Mislabeled “Butter” Products

The company urges the USDA to take prompt enforcement action against seven “butter” substitutes that allegedly violate the agency’s food labeling requirements.
View Press Release

Harvest A Great Time This Fall With These Hampton Farms Recipes On Your Table

The company partners with and supports local farms to seed and harvest all its peanuts.
View Press Release

Beetology Introduces New Beverages

The company launches cold-pressed, simple, nutrition-packed wellness juices made from nature's superfood—beets.
View Press Release

The Spice Lab is Now USDA NOP Organic Certified

The USDA Organic seal assures consumers that products are 95% or more certified organic.
View Press Release

Valio Unveils On-Trend Food Innovations and Ingredients Solutions at SIAL Paris

The company plans to showcase its latest food innovations and tailor-made ingredients solutions at the upcoming show.
View Press Release

Charlotte-Based Hissho Sushi Makes N.C. Mid-Market Fast 40 List

This year marks 20 years since Hissho Sushi was founded in Charlotte, NC.
View Press Release

Anheuser-Busch Inbev & DS Smith Plastics Named 2018 Excellence in Reusable Packaging Award Winners

RPA announces two winners in the 2018 Excellence in Reusable Packaging award program.
View Press Release

It's Pumpkin Spice Season!

Litehouse debuts a fresh look for its line of deliciously indulgent caramel dips and a limited-edition flavor: Pumpkin Spice Caramel.
View Press Release

Time to Step Up Your Fall Menu Plan; Pereg Natural Foods Gets You Started

Suffering from pumpkin spice fatigue? Here are 14 savory reasons why you still need pumpkin spice in your life.
View Press Release

New Snack Bars Take the Tahini Craze to Healthy Delicious Heights

Absolutely Gluten Free introduces TahiniBAR, the energy bar made from sesame seeds, in three exciting flavors.
View Press Release