The March issue of Beauty Inc is available today! The issue delves into all things retail, said the magazine’s editor, Jenny B. Fine, from how major players such as Target and Amazon are calibrating their beauty strategies, to the coolest new lifestyle stores that celebrate community as much as commerce. Here, five key insights from the issue.
1. Target’s Focus on Innovation: By thinking outside of the big box—literally—Target’s José Barra is reinventing mass-market beauty retailing. Innovation in product development, brand assortment and in-store merchandising forms the backbone of the retailer’s strategic vision, and it’s one that’s working: Target is said to outpace the overall market in growth by at least one percentage point in makeup and hair care, and has now set its sights on achieving explosive growth in the skin care category, too.
2. The Amazon Effect: Amazon is calling 2013 the year of beauty, and the implications for beauty brands are enormous. Although the e-commerce giant is reportedly actively pursuing mass and prestige brands, many of the brands are ambivalent, particularly in the prestige arena. But ignoring Amazon and its active consumer base of 188 million shoppers may not be feasible either.
3. Leading the Charge: L’Oréal’s Consumer Products Division is spearheading the company’s quest to acquire one billion new consumers and become the number one player globally in mass-market beauty products. To achieve that, Jean-Jacques Lebel, executive vice president and managing director of the division, is focused on the macro and micro picture—from the expansive growth of the middle classes in emerging markets to the strength of men skin’s care in Asia.
4. A Positive Outlook: Thia Breen, group president of North America for the Estée Lauder Cos. Inc., expects to see strong growth continue in the prestige market in the years to come, despite the doubt caused by the economic uncertainty here and abroad.
5. Go for the Bold: The hair and makeup looks were uncharacteristically strong at the recent New York Fall/Winter collections. Graphic black eyeliner was a key trend. On the softer side: the subtle use of gray as either a complement or a base for sophisticated eye looks.
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