Are Makeup Consumers Likely To Buy Magazines
By: Yunita Laurencia (Educatee of Global Business Marketing)
History of Sephora
Sephora was founded past Dominique Mandonnaud in Paris, France in 1969. Sephora is a well-known make retailer in the cosmetics and beauty sector that is loved past millennials.
With more than 1,900 stores in 29 countries, Sephora is ane of the leading beauty brand retailers in the world, particularly Indonesia. Sephora sells more than 250 brands of products that compete to attract the attention of customers. Dazzler products are sold as cosmetics, skincare, torso, perfume, nail coloring, beauty equipment, and hair care.
Hither are some strategies that are implemented by Sephora in competing with its competitors.
Merchandise Plan past Sephora
Sephora uses a merchandise plan strategy where Sephora places products in all of its stores according to its category. Like all makeup products put together with makeup products, skincare products are put together in the skincare area and at that place are also categories written at the acme of the shelves in their stores to make it easier for customers to notice the product they want.
Sephora also fix their best seller products on the front then that they can be easily searched past customers. Sephora prioritizes storing still filled with products so it does non await empty by customers. Therefore, Sephora provides effectiveness for customers to buy the desired products.
So, Sephora uses the merchandise programme strategies above to defend its brand in social club to concenter and maintain the Sephora make for its ratings in the eyes of millennials.
In improver, in that location are other strategies implemented by Sephora in terms of cost.
Pricing Strategy by Sephora
As you know, Sephora is a retail beauty brand that has more than than 250 well-known products at relatively low costs. Then, what pricing strategy does Sephora apply to go along customers buying Sephora products?
The Pricing Strategy used by Sephora is Demand-Oriented Pricing or pricing based on the needs or demands approach.
Sephora ready prices co-ordinate to consumer demand, where popular and skillful quality products are set at high prices because of the huge demand.
Sephora manages prices and can ready competitive prices through low overhead costs due to operational efficiency. With low operating costs, information technology is possible to attract retailers more and maintain customers' buying decisions on Sephora's products.
So, with this Demand-Oriented Pricing strategy customers will still be interested in buying at Sephora because Sephora provides prices according to the quality of the products they sell.
In addition to pricing strategy, Sephora as well applies promotional strategies to attract consumers.
Promotional Strategy past Sephora
Promotional Strategy used past Sephora is in the form of advertising, public relations, personal selling and sales promotion.
- Advertisement
Sephora uses promotional strategies in the form of advertisements such as advertisements on billboards and magazines that can increase public awareness almost Sephora.
- Public relations
Sephora promotes Public Relations where it opens a booth in the middle of the mall to meliorate Sephora's prototype, shows retailers as contributors to the quality of life of the community, and shows innovation and gives retailers sensation nigh strategies to concenter customers and make customers more than interesting.
- Personal Selling
Sephora focuses on each employee to be the best in maintaining relationships with customers. Sephora implements personal selling through its employees past communicating to customers what they demand. Sephora also conducts personal selling by offer to be dressed up with products that Sephora sells. So customers can try Sephora products before buying the product that they demand.
- Sales promotions
Discounted offers through Beauty Insiders are also offered. Prices in the marketing mix are also managed through prizes and prize points from the 'Beauty insider' option available at the store, where customers can enter and search for products and get prizes and discounts. Sephora follows competitive pricing tactics, largely because of depression operating costs, he can determine prices based on market trends.
Sephora in building an Omni-Channel Environment
With the Trade Plan strategy, Pricing and Promotional Strategy is effective plenty to be able to build an Omni-channel surround. Where, Sephora has become ane of the best Omni-channel retailers today. Sephora implements Omni-channel retailing where Sephora already has more than than 250 brands sold, as well as approximately 2600 offline stores worldwide.
In Republic of indonesia, Sephora itself already has xiv offline stores located in Indonesian malls. Besides customers can shop offline, Sephora customers can also shop online and all information about new products, video tutorials, and all the latest and greatest news and trends at the Sephora website and mobile apps.
Sephora likewise makes their shop different from the others past their personal selling past offering to be dressed upward with the products that Sephora sells. The feel in Sephora stores is also strongly supported by engineering, where applications that customers download use location-based marketing and display relevant information such as shop questions. And also in the Sephora shop, there is as well an iPad that tin can display hundreds of different colors and styles to find products suitable for customers to buy. That's why, Sephora became i of the well-known brand retailers who succeeded in implementing Omni-channel retailing through its strategies.
References:
Kidder, Stephanie. (2019). What Retailers tin can acquire from Sephora's winning retail strategy. https://en.wikipedia.org/wiki/Sephora
MBA Team. (2020). Sephora Marketing Mix (4Ps) Strategy. https://www.mbaskool.com/marketing-mix/products/17455-sephora.html#:~:text=Sephora%20Price%2FPricing%20Strategy%3A,some%20unique%20high%20end%20products.
Tolleson. A brand amidst Brands. https://tolleson.com/work/sephora/sephora-retail/
Venise, D. 5. (2011). Sephora Sales Promotions and Personal Selling. http://sephoragirlnyc.blogspot.com/2011/03/sales-promotions-and-personal-selling.html
Source: https://bbs.binus.ac.id/gbm/2021/01/21/sephora-retail-strategies-as-the-leading-beauty-retailer-in-the-world/
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