Target occupies a distinct spot in American retail: discount store prices with a design-led image that customers call cheap chic. Nearly all US households live within driving distance of its stores, which double as fulfillment centers shipping the majority of online orders. Owned brands generating billions each in revenue set its assortment apart from commodity retail, and groceries drive trip frequency. The company traces to 1902 Minneapolis dry goods roots and opened the first Target store in 1962, the same year as Walmart's debut.