Preparing for a Change
Beauty sampling is poised for a change once we all come back from the pandemic, where the high-touch category will have to adapt or die. Retail space designers will have to create an environment where cosmetics are able to be dispensed in a low-touch way in stopre displays. Store layouts may have to be redone as well to implement antomicrobial displays and other necessary features.
What happens to our Favorite Brands
Like most industries, major brand names are struggling to pivot. Some, however, are finding new and clever ways to drive sales. For example; Revolve is now using Shopping Network to sell it’s “QVC for the Coachella” line, Jonathan Cohen is selling flower illustrations, and Gucci is relying less on wholesale and more on direct-to-consumer approaches.
Some Face Bankrupty
Neiman Marcus, the well-known department store chain, filed for bankruptcy last Thursday. Columnist Rachel Tashjian reflects on the history and glory of the luxury retailer in the 90’s and 2000’s. “It turned the department store into a gleaming temple to consumerism,” said Tashjian. “Neiman Marcus made the aspirational feel attainable, often by simply putting it in front of you.”
Others See Growth
Most cosmetics companies have struggled since the end of last year, but Charlotte Tilbury has defied the odds and is quickly growing. Other beauty companies are looking at the $1 billion-plus Timbury for a likely acquisition include Estee lauder, Puig and Unilever. Most will probably wait until after the uncertain economic climate, since a large acquisition may be a risk until things settle down.