The future of malls has been and is still being hotly debated, as anchor stores, which have historically pulled customers into shopping at malls, have slowly but surely been losing traction with consumers. These anchor stores of course are department stores, which is the slowest growing channel in beauty in 2015, according to our Cosmetics & Toiletries USA report. Iconic staple brands, such as Clinique, Estée Lauder, and Lancôme, which typically drew shoppers to department store counters, have expanded their distribution to retailers like Ulta and Sephora, which are stores resonating with younger consumers. As some of the largest department stores, such as Macy’s, Sears, and JCPenney, continue to close locations, what remains the more overarching question—how will the locations that remain open increase foot traffic and sales?Continue reading
With less than a week until the holidays, consumers are busy shopping for last minute deals and steals. Holiday bundles and kits, free gifts with purchase, friends and family sales, and buy one, get one free are all promotional strategies beauty retailers have been using to drive sales during the festive season.
However, what is different in 2016 is consumers’ increase in savviness in where they can get the most value for their dollar. With consumers buying wherever they can find the best deal, retailers and marketers have proven that they are willing to accommodate changing consumer preferences by offering exclusive online deals.Continue reading