Articles

Inventory Glory

keeping inventory healthy
Inventory is a complex monster that needs constant taming. Master the beast with our experts' winning tips for keeping your inventory healthy and profitable.

Inventory. It’s not as simple as restocking the shelves when they’re low—or worse—empty. Mastering the perfect equation of how much or how little inventory to keep in your store is a highly individualized skill and requires constant monitoring. Maria Rush, vice president of business development at Beauty Collection, an upscale chain of beauty stores in Southern California, explains that even though the chain uses software to track its inventory, she and her staff “analyze our inventory constantly.” Not something to be ignored, inventory issues can quickly get out of hand.

The Retailer's Guide to Millenials

Millennial Shoppers
10 things beauty retailers need to know about millennial shoppers—plus tips on how to capture their interest

If there were ever a generation that deserved your thoughtful planning, merchandising and product selection based on its sheer magnitude of population, shopping prowess and buying power, it’s the millennials. Born between 1982 and 2000, millennials have officially surpassed baby boomers as the largest generation, accounting for roughly 25 percent of the American population—about 80 million people, per the U.S. Census Bureau. Not only that, the millennial population is still growing, as immigrants continue to populate the United States.

The Beauty Retailer's Guide to the Growing Hispanic Market

Hispanic Market
With a population positioned to comprise one-third of nation by 2060, Hispanic beauty consumers are more important than ever to beauty retailing.

The Hispanic population is the fastest-growing group in the United States, accounting for 56.6 million of the U.S. population, as of 2015. Hispanics are projected to comprise nearly one-third of the nation’s population by 2060, as researched by the United States Census Bureau. When it comes to buying power, the Hispanic market is a notable force. According to consumer-insights agency Nielsen, U.S.-based Hispanics commanded $1.3 trillion in buying power in 2015 and are expected to reach $1.7 trillion by 2020.

There's More in Store

Beauty store
Discover how two of the biggest brick-and-mortar chains in the beauty industry create unique, personalized shopping experiences for their in-store customers.

The world of online shopping is more integral to a business’ success today than ever before. But that doesn’t mean that brick-and-mortar stores will become obsolete anytime soon. For customers, in-person shopping of makeup, skincare and haircare products is a sensory experience that can’t be replicated online. Though good customer service, dazzling displays and testers have always been integral to a brick-and-mortar store’s success, beauty retailers are now offering unique incentives to drive more people into the stores.

Masters of Marketing

Want to know the secret to running a successful marketing campaign? These top beauty marketers show you how.

Marketing is a powerful tool. A well-executed campaign can take a previously unknown brand to stratospheric heights. Exceptional marketers have been known to transform virtually unknown and nascent brands into global household names—and also catapult successful brands into market-share behemoths.

The Buying Impulse

Strategically place impulse beauty buys to give your revenue a lift!

Economist Hawkins Stern published a paper referencing what he called “suggestion impulse buying,” which gained traction among retailers in the 1950s. “Impulse buying is triggered when a shopper sees a product for the first time and visualizes a need for it,” he wrote. Human nature being what it is, Stern’s theory holds true 60 years later, and popular retail chains Sephora, Urban Outfitters and The Body Shop (among many others) populate their square footage with hip-level bins and displays filled with merchandise designed to trigger the urge to splurge.