Target is launching a new paid membership program, priced at $49 a year, aimed at generating new revenue streams and competing with rivals such as Amazon ($AMZN) and Walmart ($WMT), which already offer similar subscription services. The move comes as Target ($TGT) faces a challenging retail environment, with the need for retailers to either be exceptional, have a significant presence in groceries, or occupy a unique niche to succeed. It is unclear whether Target's program will more closely resemble Amazon's Prime service or Costco's ($COST) program.