Hitting the Target: Impressive Retail Strategies in 2021 - Jacopo D’Alessandris
I recently came across an article detailing the success of Target’s new and improved beauty strategy. The strategy includes two key aspects that the world has recently called attention to: sustainability and diversity. Target beauty has implemented both of these aspects into their strategy and is setting an example for all brands and retailers.
Target’s beauty strategy:
- Indy brands
- Clean / Sustainable and “Better-for-you” formulas
- Professional brands (thanks to Ulta’s partnership)
Target has it clearly laid out and it’s an impressive arsenal they are investing in to capture the hearts and minds of female guests.
“By prioritizing our guests’ shopping experience above all, we’ve made it a goal to offer a product assortment that is rooted in our guests’ shared values and diverse needs. We want to make sure that no matter what our guests are looking for — clean, sustainable, minority or BIPOC-owned brands, personalized, or direct-to-consumer beauty — Target is their one-stop-shop for not only restocking their bathroom with their favorite products, but also for discovering new brands.”
“Through our guest research, we’ve seen an increase in demand for direct-to-consumer and personalized products; calls for more clean ingredients, more transparent ingredient information and sustainable packaging; and a desire to shop for products from diverse brands. Not only are these product categories imperative to provide our guests with an enhanced and joyful shopping experience, but they are also an integral part of our ever-expanding beauty assortment as we look to reimagine how we provide for our current guests and invite new ones in.”
I believe that these concepts do not just apply to the beauty industry, but rather, this new model is applicable to all CPG retail in general.
Winning retail concepts now focus on small, independent and purposeful brands that are highly relevant and hold a strong emotional connection with shoppers, and products that are better for you with sustainable ingredients and packaging.
So, retail take note, no matter what the category is these are the elements that consumers are looking for in 2021.
You can find the detailed article here.
