By
Chimamanda U. Martha
March 11th, 2024
The ‘Holiday Beauty Haul’ event scheduled for October could significantly help Amazon compete with other retailers.
Amazon.com Inc (NASDAQ: AMZN) stock closed yesterday trading at $3,475.79, up 0.75% from the day’s opening price. The gains had been topped with approximately 0.03% gain during the extended trading period. Amazon, one of the world’s most valuable brands, is planning to hold a beauty sales event for three weeks starting from October 4, 2021.
According to news outlet CNBC, the event is expected to lure more customers ahead of the end of year festivities. Moreover, online beauty sales have significantly spiked during the Covid pandemic.
Amazon Beauty Products Event
“We want to draw customers back to Amazon during Black Friday week but also a long term with additional marketing levers,” Amazon wrote in a slide deck. “This is a unique opportunity for selected brands to reach both more shoppers and new customers.”
The report was verified by the company’s spokesperson Catie Kroon, who reiterated that the event will focus on beauty products. Hereby, the name ‘Holiday Beauty Haul’.
According to Elaine Kwon, a former vendor manager in Amazon’s fashion category who currently runs Kwontified, the ‘Holiday Beauty Haul’ event scheduled for October could significantly help Amazon compete with other retailers. Notably, the company is in stiff competition with online retailers like Ultra Beauty and LVMH-owned Sephora.
“Sephora and Ulta have very, very successfully protected their customer base,” Kwon said. “This is Amazon’s way of trying to reach out to those customers and give them a great experience that makes them think, ‘Maybe I don’t have to go to Sephora for all of these things, maybe I can go to Amazon for this or that.”
AMZN Stock
Amazon is regarded as one of the most influential economic and cultural forces in the world. The majestic nature was visible in the past year following the global Covid outbreak. The company has grown to almost a $2 trillion market cap company. Closely behind global brand leader Apple Inc (NASDAQ: AAPL) with approximately $2.5 trillion.
According to market analytics provided by MarketWatch, AMZN stock has gained approximately 15.52% in the past year and has now jumped approximately 6.72% YTD. The gains and the current market perspective have given Wall Street analysts confidence in the company’s future growth prospects.
A study conducted by MarketWatch indicates AMZN stock received an average rating of Buy rating from 49 ratings. The strong and unanimous call has given the 506.44 million outstanding shares a higher market value.
As the year approaches the end, Amazon is keen to deliver to its shareholders’ notable gains as reported at a similar time last year or even better.