Amazon's next target is Target?
It seems preposterous at first blush, but a well-respected Wall Street analyst has suggested that Amazon's next brick and mortar acquisition target could be Target.
According to Bloomberg, the internet giant will acquire discounter Target Corp., Loup Venture co-founder Gene Munster wrote in a report highlighting eight predictions for the technology industry in 2018.
Amazon made waves in retailing last year with its $13.7 billion purchase of upscale grocer Whole Foods Market Inc.
“Target is the ideal offline partner for Amazon for two reasons, shared demographic and manageable but comprehensive store count,” Munster wrote, noting both companies focus on mothers and families. “Getting the timing on this is difficult, but seeing the value of the combination is easy.”
Read the Bloomberg and watch the Munster interview here.