Target is betting big on small. The cheap chic retailer, known best for its suburban market stores, is looking at a 20,000-sq.-ft. outlet in Minneapolis near the University of Minnesota campus. Dubbed TargetExpress, a New York Times report said the store will be about "a fifth the size of Target’s smallest format stores to date." The format would allow the retailer to get into denser urban markets such as New York. It would also allow the retailer to attract young people who shun suburbs for city living. On Target's corporate website, John Griffith, executive vice president, property development, said: "This is an exciting opportunity to test and learn as we continue exploring new ways to meet our guests’ needs and exceed their expectations." The test store is scheduled to open July 27, said Target. The merchandising mix will feature smaller pack sizes and items geared toward instant consumption, like grab and go sandwiches. Specific to this store, there will be merchandise customers can't find at other Target outlets for home including electronics and seasonal items. To read full story, go here.