Across the industry and throughout the consumer space, BIOPOC-focused products and providers are in the spotlight.
Ulta recently put their money with their hearts are by unveiling a $50 million investment in DE&I (a doubling 2021’s $25 million commitment) saying that its focus is across four categories: bolstering underrepresented voices, diversifying product offerings, and improving experiences for both customers and associates. Not to be outdone, Target added 20 Black-owned or Black-founded beauty brands to its catalog of products (a 65% boost in offerings since 2020 with over 70 now available). Target last year also pledged to spend over $2 billion with Black-owned businesses by the close of 2025.
In an interview with Ulta Beauty CEO Dave Kimbell on the topic of installing Pattern Beauty founder Tracee Ellis Ross as Ulta’s DE&I advisor, Mr. Kimbell said “…[simply stocking products from] diverse founders doesn’t guarantee that these brands are going to be successful. We’ve spent time listening to Tracee’s experience to make sure we can create an environment where emerging BIPOC brands are supported as they navigate the Ulta Beauty environment, so they understand the supply chain, they’re building branding, etc.”
This is important to our team as well. Accelerated Analytics helps brands not only drive success with their business, but demonstrate ownership of coveted retail shelf space. We work with the raw data that retailers provide (such as portal files, EDI 852 documents, etc.) and help make sense of this data, organizing it into practical, actionable, and human-readable data points that help your brand management team navigate the daily changes in consumer tides. A level of inventory management, nimbleness, and readiness that retailers like Ulta expect, yet don’t always see.
Check out our dedicated Ulta Reports here. Then, let’s set up a meet to look over your brand’s use of its available data and how our sales reporting tools can help your brand specifically stay ahead of the curve at box stores like Target and Ulta.