Target (Minneapolis) announced that it plans to increase its e-commerce and supply chain spending to about $1.8 billion during 2016. It plans to improve Target’s website, grow its mobile shopping app and improve the reliability of in-store point-of-sale technology.
In 2015, the retailer spent $1.4 billion on technology, which outpaced its spending on brick-and-mortar stores for the first time. Thanks to those investments, the company saw online sales jump 34 percent during the 2015 holiday shopping season. For the year, online sales increased 31 percent, though the company had anticipated yearly growth of 40 percent.
The retailer also plans to increase spending for building new stores and remodeling existing ones to $2 billion a year, starting in 2017, reports Fortune.