SoHo has a new resident: Target. Earlier this month, in the tourist-heavy downtown Manhattan neighborhood known for its cobble-stoned streets, cast-iron buildings, and high-end boutiques, the struggling retailer opened its first-ever concept store.

Cara Sylvester is the executive vice president and chief guest experience officer for Target Corporation. There is a certain magic to retail done well. Because whether it’s a small shop, a major department store, or a multi-category big box, a great ...