Walmart is no longer embarassing for beauty consumers: report
Walmart is by far the biggest beauty retailer in the US, making it a crucial retail channel for the beauty industry and one that mass market brand owners and now even some of the more up market beauty brands would be foolish not to prioritize.
The 2010 Pink Report from The Benchmarking Company highlights this importance with the eyeopening statistic that 71 percent of women shop for beauty and personal care products in Walmart every week.
Changing criteria puts Walmart on top
But whereas Walmart has previously been seen as anything but chic, a new set of important criteria that includes convenience, price, value and authenticity are the key drivers behind the change in attitudes.
According to the report authors, the average US female consumer says 'she loves Walmart, and is not afraid to admit it'.
General attitudes towards the retailer have taken an about turn in recent years. Wheres previously the company had suffered from a poor public image, due in part to allegations over its employment practices, more recent initiatives to reduce its overall carbon footprint have helped to mend this.
Well placed during economic downturn
Likewise, Walmart has also been extremely well placed during the economic downturn and resulting hardship in the retail segment, which has allowed it to profit from beauty consumers trading down from luxury brands to mass market and private label.
These factors have helped Walmart become an even more integral part of women's shopping behavior, a factor that is highlighted by a number of key trends outlined in the report entitled, Women & Walmart: Seeing Through the Eyes of the Beauty and Personal Care Consumer.
Knowing what is going on at Walmart is 'vital'
"Whether your brand is at Walmart or not, what is happening there and how consumers are spending their time and dollars inside the store is vital to the entire beauty and personal care industry,” said Benchmark Company founder and creative director Alisa Maria Beyer.
Beyer also explained that the focus of the report is to give top beauty and personal care executives a clear insight in to what is happening in 'Main Street USA', cluing in on how consumers are spending both their time and money.
The report also highlights other statistics such as spend on beauty products, which brands are most popular, opinions on private label, Walmart online and how the average beauty consumers spends her time in the personal care aisles.
