Dive Brief:
- Walmart is offering over 1,800 deals during its Spring Beauty Event, according to a company blog post by Vice President of Beauty Vinima Shekhar. The event started Friday and goes through May 31.
- The retailer is offering savings on skin care, cosmetics, hair and accessories. Among the brands featured are Olaplex, Dyson and L’Oréal Paris. Walmart is showcasing “trend-forward brands” on its website using “elevated shopping experiences” and editorial content, according to Shekhar.
- The retailer is also piloting Beauty Bars at 40 select locations, where shoppers can browse new products, talk to beauty experts and test samples.
Dive Insight:
Walmart is encouraging shoppers to refresh their beauty routines by shopping its Spring Beauty Event and exploring products at its Beauty Bars.
The retailer is highlighting products that are on-trend and affordable.
“They mix basics with premium,” Shekhar said of Walmart’s beauty customers. “And they’re asking for more — more personalization, more transparency and more options that meet their needs, their budgets and their lives.”
Walmart’s Beauty Event builds upon its previous efforts to attract beauty shoppers. In March 2023, the retail giant debuted its “Clean Beauty at Walmart” platform, featuring more than 900 products. And last year, Walmart expanded its marketplace to include premium beauty. Last month, the company announced that it has introduced more brands to its premium beauty product lineup, including Curology, Pretty Smart and Being.
Walmart aims to become “the most trusted and accessible beauty destination for everyone, at every stage of life” Shekhar said. “We know our customers are looking for more things they need, want and love and our team is focused on having that available to them however and whenever they want it.”
In a similar move, Target has also diversified its beauty offerings. Two years ago, the retailer added “thousands” of new products to its beauty assortment, many of which fell within Target’s Clean standards for ingredient transparency.
Target also sports a partnership with Ulta for beauty shop-in-shops, but expansion efforts have been paused for the year. Instead, the companies will lean into the over 600 stores that are already open and examine ways to “drive efficiencies,” Ulta CEO Kecia Steelman said earlier this month.
Amid economic uncertainty, the beauty market is predicted to continue to grow in the coming years. A TD Cowen report projects that the beauty sector will grow at a compound annual growth rate of 5% from 2025 to 2030. However, Target and Walmart’s combined share of the beauty market is expected to decline slightly by 2030.
Like Walmart, other retailers have launched spring sales in recent weeks. Target held its Target Circle Week sale from March 23 to March 29 and Amazon will soon kick off two sales: one that focuses on books and another for pet products.
