7-Eleven makes an unusual move with new beauty line
7-Eleven is looking to grab market share in a lucrative category that most convenience stores largely ignore.
The convenience store giant has launched its own line of makeup, called Simply Me Beauty. Available exclusively at 7-Eleven stores, the brand was created to appeal to millennial women, the company said.
The new line is made up of 40 items of cosmetics and cosmetic accessories for the face, eyes and lips. All items are priced between $3 and $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," said Lindsay Robertson, 7-Eleven product development category manager. "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."
Beauty products is a $46 billion industry that is expected to increase by 12% by 2020, and makeup accounts for 17% of the cosmetic market, another number that is expected to continue to grow. Drug stores and supermarkets have 30% of the market, and 7-Eleven hopes to gain market share in a big way with its new introduction.
"Convenience isn't always just about a quick stop for something to eat and drink," said Jack Stout, 7-Eleven senior VP of merchandising. "7-Eleven tries to offer our customers solutions for lots of different needs. We believe that for many, this top quality line of cosmetics and cosmetic accessories can become regular purchases in addition to fill-in stops."
7-Eleven is supporting the launch with a social media program during the holiday shopping season.
The convenience store giant has launched its own line of makeup, called Simply Me Beauty. Available exclusively at 7-Eleven stores, the brand was created to appeal to millennial women, the company said.
The new line is made up of 40 items of cosmetics and cosmetic accessories for the face, eyes and lips. All items are priced between $3 and $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," said Lindsay Robertson, 7-Eleven product development category manager. "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."
Beauty products is a $46 billion industry that is expected to increase by 12% by 2020, and makeup accounts for 17% of the cosmetic market, another number that is expected to continue to grow. Drug stores and supermarkets have 30% of the market, and 7-Eleven hopes to gain market share in a big way with its new introduction.
"Convenience isn't always just about a quick stop for something to eat and drink," said Jack Stout, 7-Eleven senior VP of merchandising. "7-Eleven tries to offer our customers solutions for lots of different needs. We believe that for many, this top quality line of cosmetics and cosmetic accessories can become regular purchases in addition to fill-in stops."
7-Eleven is supporting the launch with a social media program during the holiday shopping season.