The retailer, owned by Japan-based Seven & I Holdings Co, is hoping to engage beauty consumers where they already are, even if they didn’t come in to the store to buy cosmetics or personal care items. “Convenience isn’t always just about a quick stop for something to eat and drink,” Jack Stout, 7‑Eleven senior vice president of merchandising, says in a media release about the company’s new beauty brand.
“7‑Eleven tries to offer our customers solutions for lots of different needs,” says Stout. “We believe that for many, this top quality line of cosmetics and cosmetic accessories can become regular purchases in addition to fill-in stops.”
The strategy
7-Eleven is adding beauty to its business in hopes of taking a fair amount of market share. In the release announcing the Simply Me Beauty launch, the retailer shares stats on the industry showing that by 2020 the $46bn beauty industry will grow 12%. And, they note that color is expected to grow as well. 7-Eleven also points out that 30% of market share is held by drug store and supermarkets; so it seems the company is hoping that consumers won’t see it as much of stretch to buy beauty at a convenience store.
As a further incentive to consumers, the Simply Me products are all priced at or below $5. “The beauty industry has seen dramatic growth of cost-conscious cosmetics in the marketplace because millennial women are looking for a variety of colors at affordable prices,” Lindsay Robertson, 7‑Eleven product development category manage, tells the press.
“They like to buy and try, and our goal when developing the Simply Me Beauty line was to create a line of makeup that had a quality look and feel without a high price barrier,” she says.
Not surprisingly, given the focus on millennial consumers, 7-Eleven will be promoting the brand on social media throughout the holidays.
The reality
Simply Me Beauty comprises a wide array of color products and accessories, 40 items in all. There are complexion products like BB foundation creams, hi-def concealers, blushes, bronzers, highlighters, and translucent powder; eye products like eyeshadows, eyebrow products, eye makeup remover, and eyelashes; as well as lip products like glosses, crayons, and cream lipsticks. The brand also includes brushes, a blender sponge, a nail buffer, and nail polish remover.
To debut the brand, 7-Eleven is merchandising the Simply Me Beauty collection in a freestanding display labeled Gorgeous on the Go.
“Much of the time, makeup items like lip and eye colors are spur-of-the-moment, impulse buys,” says Joy Pico, 7‑Eleven category manager. “If the price is right, that makes it easier to justify. For a millennial working woman wanting to refresh her makeup while grabbing lunch at 7‑Eleven stores, Simply Me Beauty is a welcomed offering and is priced just right for her.”