An up-and-coming cosmetics chain owned by Macy's is thriving by selling to the 'suburban power woman'
Bluemercury
Bluemercury is proof. The luxury cosmetic store and spa - which, according to co-founder and Chief Operating Officer Barry J. Beck caters to the "suburban power woman or the urban superwoman" - was swept up by Macy's in 2015, and it has more than 100 stores. It plans to open up at least 40 stores come 2017, including stores within Macy's. (Meanwhile, Macy's announced that it will be closing roughly 100 stores.)
Here's what Bluemercury has going for it.
1. People will spend on makeup; it's a "petite luxury."
Beck, who founded the store 17 years ago with his wife Marla, called it the "lipstick index." He said "it's hard to buy a new Cadillac, but to get a quick product or a quick fix like luxury lipstick or eye cream, you can really feel better about yourself, and you don't have to break the bank." He called it a "petite luxury."
Also - people want to look younger, which is certainly a boon for the cosmetics industry - especially the upscale cosmetics industry, which offers lots of pricey skincare products.
"I think in this fast paced environment - young, youthful, fast - it's so important," he said, noting that now, "men are looking for ways to look younger; it's the first time we're seeing more men coming into our store."
2. It works at the speed of social media.
"I like to call it my Golden Thread to Purchase," he said. "Instagram, Facebook, Twitter, Youtube, purchase, and we all need to embed ourselves in that process."
And when that fails? He asks Gen Z.
"When I need to understand how that process works, I go to my 13 year old daughter, and I say, 'hey, if you ran Bluemercury, what would you do?'"
3. It sells an experience.
Blue Mercury is not just a cosmetics store; it also has a spa within it. Like Sephora and Ulta, which have in-store makeovers and salons respectively, it gives consumers a reason to say. (Plus, stores are trying to become more experiential since that's what millennials prefer to spend on these days - that, and makeup, cellphones, and Uber rides).
In fact, its lending its experience to Macy's. As Blue Mercury stores open up within Macy's locations, it lends itself to a sense of luxury and helps give Macy's the added experience that it may need. Beck told Business Insider how Bluemercury sells higher-end brands, like La Mer, that aren't sold at Macy's, and that it will be incorporate the element of grab-and-go cosmetics, something that Macy's has been experimenting with
It's a mutually beneficial relationship, though; Macy's provides Bluemercury with capital infrastructure, and soon-to-step-down CEO Terry Lundgren also helps him with some advice.
It's fast, too. Beck called it the "Uberization of services." He also noted that many professional women don't have a lot of time on their hands.
- Welcome to the white-collar recession
- Singapore Airlines was ordered to pay a couple compensation for 'mental agony' after they complained their business-class seats didn't automatically recline
- A 101-year-old woman keeps getting mistaken for a baby on flights and says it's because American Airlines' booking system can't handle her age
- LS polls: EC increases polling time in Telangana in view of heat wave
- US Fed says further interest rate hike unlikely going ahead
- “Wish to follow in the footsteps of PM Modi!” ‘Anupamaa’ star Rupali Ganguly joins BJP
- “Wish to follow in the footsteps of PM Modi!” ‘Anupamaa’ star Rupali Ganguly joins BJP
- Assassin’s Creed Mirage on iPhone 15: Killer game to debut on Pro and iPad on June 6
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market