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Catherine Moellering, Executive Vice President at Tobe tells us what retailers need to think about
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In Monday but right now we're talking to Catherine -- citing executive vice president of -- bank.
Toby Toby and me and make it more now you know it's using these -- my often like looking down -- -- morning -- for a -- Spock.
Not he had department store -- getting into beauty product tacitly you're an excellent trend -- that candidly is that trend we're getting more and more retailers.
Start to embrace beauty services.
And I think it makes a lot of sense I think.
You know when you think about how much e-commerce is starting -- into brick and mortar retail volume.
They have to look for ways to create expert experience on retail.
And beauty is a great way to do it and give any numbers that show that it's working not working or will -- working it's a relatively new trend that we do note that overall the of the businesses forty billion dollars in terms of salon services had a pretty good market to go after -- -- -- Layering in additional sixty billion for the beauty products.
So I'm regularly -- yeah a really big business take makes sense to me because it's like Holland one shopping you know when you run -- -- always write -- -- really long an -- person on and that I have to do or waxing whenever I'm on against the need to -- -- -- -- -- -- and and I think that's the really important thing that retailers need to pay attention to is.
You know you can't.
Compete with e-commerce in terms of efficiency that you can buy something from the couch in your pajamas.
So again the retailers have to start thinking differently and by bringing the beauty services into the store.
They have that edge over e-commerce but -- also do an interesting thing which is they add the human element back.
Which I think -- -- really interesting thing particularly in beauty when you look at something likes -- for an icon the support vacation every you know.
Be heading to -- re -- lady Laura and it's an open ended.
Selling model re so used to go to department store and if you wanna ballistic you have to go up to counter yet to speak to someone -- and they would tell you look -- when you wouldn't say exactly it.
-- -- -- On the city would sell you the lipstick but that they could also say hey have you thought about something for your team down and they could have that -- on sale.
When you get reading of that expert and you go to an open cell model.
You lose that opportunity for this additional sale excellent point -- so that's what I really like this idea as having the beauty services in the retail space -- -- -- that expert.
Back in touch with the consumer right.
-- any sense that that -- for a brand has been somewhat diluted.
I don't cannot see it everywhere -- -- I mean I think it's a real game changer in terms of how it completely shook up the model.
And you see now that department stores and to your point.
Drugstores have offset -- chase that model and as you said they don't start to look likes of forests are thinking it was a very.
Positive.
Shift in terms at empowering the consumer NASA -- trend of self service but.
Now we have to figure out a different way -- figure out how we don't completely get the -- -- -- equation and -- and -- at least today your -- on Cambrex -- perhaps.
We actually film -- birth something nice and refreshing -- you think about it.
-- we've seen the -- saying that would -- columnist Bob Stewart is -- the department stores is it up to speed and at.
With pretty -- well I completely but I think what's interesting is we talked to that the -- it actually twin sisters his founded benefit rap -- -- and based sell one -- product every minute of every hour at every day 365 -- -- make -- -- and gas and what they found is one product every minute is.
That's astounding rate in the area there -- they're completely international they have a little over 11100 places you -- -- to browse.
-- but what's interesting about -- he get your -- done that's not where they're making their money.
They're making their money on selling off the other stuff because when you have some end I'm taking care of your browser you can sort of say hey have you thought about it about right you're feeling her and I like that as a perfect opportunity get person house -- -- and start recommending things.
You know I sometimes get -- some time -- -- now fast and man acres of conflict maybe she get your arms -- yeah.
I think you could you tell me sent and -- exciting -- There's -- and yet -- and we need training accident things interesting because believe or not.
Man's gaping -- -- -- -- it can't end it's a little terrifying have a tell you we actually found out that there are some spas that offer and -- -- which.
I really don't even want to know about -- I think about it but.
It is a real business and men's grooming is on fire.
Nominee to once differently -- -- Laser hair removal of how for the Brazilian.
On the man is happening cancel out wow okay I'm glad it's Friday and I -- yeah.
When I run out of of that and a lot of well I I used car and and right here.
Okay snow yet this is -- This isn't dynamic trans beautiful Spain -- show about the -- announced on revenue by age group and yet just bring that up now on my spent just look at it from mine and -- up.
I think he and it's yeah I think is interesting here is that when you look at the age group distribution you've got a nice.
Density right around this one man that most retail is really want to get this women -- over 25.
-- his making a lot of decisions about where suspending the family revenue and you know a lot of trends unfortunately seem to cluster are around a really young consumer who -- Controls that much of the wallet so -- like again beauty services for retailers because this is -- consumer that is a really great robust.
Consumer to go after in terms of how much of the spending she can influence -- energy may have remembered have a target the the that the demographic and make some money yeah caseloads actually targeting in addition to -- -- general -- now they're targeting the older Americans.
Because they realize that this is the group that day has the pocketbook in the cash to pony up.
And also there's more brand loyalty -- -- with an older Americans want best will have to do another statement -- I learned I love a hybrid term.
As a partner in the trend business we love them I just heard welders -- -- is the well elderly.
And it sort of a new hot demographic to go -- -- considered elderly.
-- I gotta be careful and right thing I ever 75 cent I might have to step up map plan.
I can make everybody feel better there's two recent reports out and two huge huge officials -- -- to men in the world as well as benefit its CEO -- Anke.
They -- say we're gonna start retiring between seventy and eighty years old so I don't know I guess seventy is like in -- laugh -- And a recent Gallup poll says that Americans agree the average retirement age should be 67 years old laugh so we're we're getting -- -- yes we hadn't.
We are getting older and I we'll tell you as someone who.
You know supports the -- community fabulous they all have to buy things to you Wear to work setting up his greatness we want him to continue to be good retail buyers.
You keep the economy going yes okay so interesting trend next time around Bloomingdale's pay attention to beauty section and I'll be absolutely -- when an event -- -- executive vice president at Toby thank you so much.
