Target taps Shopify to add sellers to its third-party marketplace

Shopify will assist Target in enhancing its online marketplace by allowing its merchants to apply to join Target Plus, Target's third-party marketplace. This will expand Target Plus with a selected assortment of products and brands. Shopify merchants in the U.S. will be able to apply to sell online on Target Plus through Marketplace Connect, an app that allows merchants to sell and manage orders on marketplaces such as Target Plus45.

Target's stock performance has underperformed compared to the S&P 500 recently. As of Friday's close, the company's stock is up about 2% compared with the S&P 500's nearly 15% increase. Its stock price of $146.13 is also well below the highs it hit during the Covid pandemic years, when it topped $260.