Shares of retail giant Target Corp ( TGT ) and Shopify ( SHOP ) Inc are trading higher premarket today.

Target ( TGT ) has announced a partnership with global commerce platform Shopify ( SHOP ) to feature a selection of popular merchants and their products on Target Plus, its curated digital marketplace.

This collaboration aims to expand Target Plus with new, trendy products and brands such as True Classic and Caden Lane, providing consumers with a broader array of affordable and high-quality options.

Target ( TGT ) will also become the first major retailer to integrate select Shopify ( SHOP ) merchants’ products into its physical stores in the coming months.

The initiative will allow shoppers to discover new brands in-store, enhancing their shopping experience with innovative products.

Shopify ( SHOP ) merchants in the U.S. can apply to sell on Target Plus through Marketplace Connect, an app facilitating seamless sales and order management on leading marketplaces.

Also Read: How Target’s Innovative Strategy Resolves A Multi-Billion Dollar Inventory Crisis: Report

Target Plus, launched in 2019, offers a curated collection of products reflecting Target’s quality and value. The platform features over 2 million products from numerous brands.

The partnership with Shopify ( SHOP ) aims to further expand this assortment, providing consumers with even more premium and direct-to-consumer brands.

Cara Sylvester, Target’s executive vice president and chief guest experience officer said, “Target Plus invites consumers to explore a curated collection of products from vendors we trust, so they can shop our assortment with confidence.”

Shopping on Target Plus allows consumers to enjoy their favorite Target ( TGT ) perks, including 5% off with a Target Circle Card, free shipping on orders over $35, and free returns.

Target ( TGT ) stock has gained more than 8% in the past 12 months. Investors can gain exposure to the stock via VanEck Retail ETF ( RTH ) and Consumer Staples Select Sector SPDR Fund ( XLP ) .

Price Action: TGT shares are trading higher by 0.60% at $147.00 and SHOP is up 1.63% at $66.10 in premarket at last check Monday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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