Target Teams With Shopify To Boost Online Sales [Video]

Target (TGT) shares advanced in intraday trading Monday after the retailer announced a partnership with the e-commerce platform Shopify (SHOP) to boost its online sales.

Target said the deal will expand Target Plus, its third-party digital marketplace, “through a hand-selected assortment of new and on-trend products.”

Merchants who use Shopify can apply to sell online on Target Plus through Shopify’s Marketplace Connect app, while some select ones will also be able to make their products available in Target’s physical stores.

Target Chief Digital and Product Officer Prat Vemana explained that research shows digital shopping will likely drive growth for the retail industry, and boosting its online presence will help Target build its reputation “as a destination for these coveted brands as consumers discover them in their Target.com search or on social media.”

Shopify President Harley Finkelstein noted that it’s important for merchants to “be everywhere customers are,” and that teaming …