As the calendars flipped to October, retailers switched into holiday mode, or, in the case of the beauty category, haul-iday mode.
Ulta Beauty is preparing for those beauty hauls and the shopping behaviors that drive them to look a bit different this year, however, as consumer wallets remain pressured. Ulta Beauty reported lackluster results in Q2 that CEO Dave Kimbell noted were “short of our expectations,” as demand cooled in mass beauty and the makeup category, and competition increased within prestige as distribution grew and competing retailers opened.
Though shoppers will likely be “cautious,” Ulta Beauty is aiming to infuse some joy into the holiday season, Ulta Beauty CMO Michelle Crossan-Matos told Retail Brew, hoping its new products, campaigns, and doubled-down focus on its mass and prestige offerings will help the season sparkle. “The consumer needs choice this holiday more than ever,” she said.
Sitting pretty: While consumers may spend conservatively this holiday, Crossan-Matos noted “splurges” persevere, but are shifting, perhaps from a several thousand dollar Gucci handbag to a Chanel beauty item priced under $200.
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