USA: 7-Eleven taps cosmetic market in pursue of new services
Convenience retailer launches Simply Me Beauty, its private brand of affordable makeup for millennials.
7-Eleven will soon be offering a brand new service at its stores, make-up. Simply Me Beauty is a brand was created to appeal to millennial women, according to the international retailer. The assortment of 40 items is designed to meet the needs of any female consumer.
"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," said Lindsay Robertson, 7-Eleven product development category manager.
Beauty products is a $46 billion industry that is expected to increase by 12 percent by 2020, and makeup makes up 17 percent of the cosmetic market, another number that is expected to continue to grow. Drug stores and supermarkets have 30 percent of the market, and 7-Eleven plans to gain market share in a big way with this introduction.
"Convenience isn't always just about a quick stop for something to eat and drink," said Jack Stout, 7-Eleven senior vice president of merchandising. "7-Eleven tries to offer our customers solutions for lots of different needs.
