Walmart, the supermarket giant has long been maintaining its spot at the top in the retail sector. The retailer earned its reputation though its wide variety of products that boast competitively low prices — not to mention the sheer volume of Walmart stores located all over the country making it one of the more convenient choices for grocery shopping.
However, now it seems that fresh produce is not the only thing being used to draw shoppers to the store. The big box giant will be welcoming a new category of products to its stores soon and skincare aficionados are going to love this one.
Walmart introduces luxury beauty products to its stores
Whilst big box retailers like Walmart had initially started out by offering low prices on everyday items like food and other essentials, the product offering naturally expanded to include more ranges and varieties — and sometimes the prices of these products were slightly higher. This was, of course, done to better the customer experience by offering them just about any product in any department they could think of.
Now, the supermarket giant has decided to dabble in the area of luxury beauty and will soon be introducing several well known brands to its shelves. Aside from the added convenience customers will enjoy from this new inclusion, the retailer is making this move with the hopes of drawing in more customers. Through this strategy of introducing exclusive and more expensive brands, the retailer aims to increase profitability, along with customer satisfaction.
New brands to keep an eye out for at Walmart stores
Through its new strategy of betting on luxury brands, the big box retailer will now include the following brands in its inventory list:
- La Roche-Posay – for skincare products
- Buxom – for lips products and other cosmetics
- Tizo – for skincare products
- FHI Heat – for hair tools and other accessories
In a statement shared by the retailer, Vinima Shekhar, Walmart’s vice president of beauty merchandising, shared that, “Customers have been thrilled with the addition of premium beauty products to Walmart since we launched our first selection a few years ago.”
This addition to its repertoire will likely be good for overall sales within the company. Beauty products are often subject to a trial and error period as each individual tries to decipher which is best for them. By having these types of products available at an accessible price point, more consumers are likely to try them out.
The retailer also recently launched its own marketplace to further broaden its offering of products. In this regard, Shekhar also added that, “We’ve been working hard to identify brands our customers are looking for in this category,” adding that through the Walmart Marketplace, “we’re able to introduce exciting new brands like Cosrx, T3, and Beachwaver.”
The retailer’s vice president of beauty merchandising in the United States concluded her statement by revealing that, “Since launching last summer, premium brands like L’ange and Victoria’s Secret have experienced double-digit growth post-launch, and T3 has seen triple-digit growth.”
Other changes with the retailer
In addition to this introduction of luxury beauty products, the retailer has also recently confirmed its plans to expand the number of gas stations and convenience stores in operation. These plans are coming hot on the heels of the closures of eleven underperforming stores and is likely a part of the company’s plan to restructure itself as it tries to keep up with a rapidly evolving market.
According to Dave DeSerio, vice president of fuel and convenience at Walmart US, “By adding dozens of fuel and convenience stations this year, we’re bringing even more value to our customers. Customers shop at Walmart for our low prices and convenient deals , and our fuel stations are another example of how we’re responsive to the needs of our customers and members.”