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Thu. 16 Sep 2021, 1:45pm ETBenzinga
In: News, Tech, Media
  • Amazon.com Inc (NASDAQ:AMZN) aims to organize a beauty products event in October to lure early holiday shoppers, CNBC reports.
  • Amazon is planning October 4- October 25 as per the slide deck sent to beauty brands and consulting firms, challenging Ulta Beauty Inc (NASDAQ:ULTA) and LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMUY) - owned Sephora.
  • The Holiday Beauty Haul event will feature multiple product types, including fragrance, men’s grooming, and winter skincare.
  • The report says that Amazon has been eyeing a bigger pie of the global beauty market worth $500 billion in annual sales. 
  • CNBC quoted a report that online makeup sales surged 40% in 2020 year-on-year, while sales of “self-care” items like shampoo, face wash products, and lotions climbed 59% Y/Y.
  • U.S. online purchases during November and December surged 32.2% Y/Y to $188.2 billion, the report said, citing Adobe Analytics.
  • Price Action: AMZN shares traded lower by 0.24% at $3468.61 on the last check Thursday.