Tell me a bit about what the BEAUTYSPACENK retail space is and where the concept came from.
This unique collaboration, called BEAUTYSPACENK, leverages Walmart’s size and scale with the iconic British personal care and beauty company’s assortment of high-quality beauty brands and products. Customers will now have a convenient way to shop both beauty staples and prestige specialty items during their weekly Walmart shopping trip.
Space NK’s ability to curate an assortment of highly sought-after products will help us continue making beauty more accessible and allow our shoppers to find prestige specialty items all in one place. Working only with Space NK versus 15 brands separately is a huge benefit to the business model.
BEAUTYSPACENK launched online on March 15 with 600 products from 15 brands and will launch into 250 stores in the summer.
What is the value of bringing prestige beauty into Walmart?
Through our omnipresence, we’re able to provide our customers with both mass and prestige products in one simple and convenient destination. Our focus remains on offering a strong, exciting beauty selection that drives traffic and sales, as well as evolving the experience to meet the ever-changing needs of our customers.
As customers continue to return to pre-pandemic ways of life, we saw an increased interest in beauty and worked hard to identify a strategic partner who could help us expand our assortment to provide products that wow and surprise without needing to shop another retailer for prestige products.
What whitespace is BEAUTYSPACENK filling?
We’re always looking to expand our selection and have worked hard to bring in wow-worthy and surprising brands over the past few years. Our relationship with Space NK is less about filling a void and more so about providing our customers with even more exciting, on-trend, quality options for them to choose from in-store and online. Moreover, the curated collection makes it easier for customers to shop hero products from prestige brands.
Aside from sales, how will Walmart and Space NK measure success with BEAUTYSPACENK?
Customer feedback is very important to us and is at the center of everything we do. We’ll test and learn to see which products and categories resonate with customers and adjust and enhance from there.
What can the personal care industry more broadly take away from the launch of this project?
Identifying a strategic partner to curate an assortment of products that customers are looking for creates an accessible and convenient shopping experience.