In order to keep up with retailers Walmart and Aldi, Target is lowering prices on beauty products to make them more affordable.More
By Macaela Mackenzie. Photos: Getty Images.
Target has been giving its beauty department a major makeover. Last month the retailer announced a pledge to go greener—pulling out nasty chemicals over the next few years and being totally transparent about what’s in your favorite Target-brand beauty products going forward. Following the easier-on-your-skin changes, Target just announced a big easy-on-your wallet revamp, too. Score.
This week, the retailer announced a renewed effort around its low-price commitment—specifically calling out its personal-care categories, according to a report by WWD. That means Target is lowering prices on your favorite drugstore products. The wallet-friendly move is reportedly prompted by price slashing at stores like Wal-Mart and Aldi; Target is hustling to keep up.
For beauty connoisseurs, it’s great news. Target’s shelves are full of already affordable beauty goods and some of our favorite new brands. They’ve even started stocking some superbuzzy K-beauty brands over the last several months. The idea of getting even better prices for our favorite beauty products is enough to make Target a go-to beauty destination—if it’s not already.
But the beauty brands on Target’s shelves aren’t so thrilled. Cutting prices to pass on savings to the customer means the brands themselves aren’t making as much by selling at Target—a factor that could potentially weigh into beauty companies’ decisions to keep stocking our favorite products. The Target dilemma is likely part of a bigger issue facing retail at the moment. Thanks to the rise of direct-to-consumer buying options—including both Amazon and high-end designers—it’s getting harder for brick-and-mortar stores to keep up with costs. See American Apparel and now BCBG, which filed for bankruptcy this week.
Target didn’t get specific about the exact financials behind its move. Most likely, it—not the brands—will be eating any losses resulting from price cuts, according to the report from WWD. For now, the cheaper beauty news is definitely something to celebrate.
This story originally appeared on Allure.
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