Amazon Plans Beauty Extravaganza To Target Early Holiday Shoppers

Amazon.com Inc 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 ULTA and LVMH Moet Hennessy Louis Vuitton SE 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.