E.L.F. Is So Popular They Can’t Keep Stock On Store Shelves
E.L.F. Cosmetics is so popular their products are flying off stores shelves and they can’t keep items in stock at mass retailers like Ulta, Target, and Walmart. E.L.F. Cosmetics like many brands have been trying hard to accelerate online sales and push traffic to their website by offering incentives like reward points, free shipping, and discounts. But E.L.F.’s biggest force is in their retail sales from stores like Walmart, Target, and Ulta.
E.L.F.’s CEO, Tarang Aminn, was quoted by Yahoo Finance saying, “We’re growing our business strongly at Walmart. “We grew our business at Ulta Beauty over 70% last year without any incremental space. And at Target, our longest-standing national retail customer, we’re their biggest brand across mass color cosmetics and facial skin care by a pretty wide margin.” In its fiscal fourth quarter, e.l.f. reported that net sales increased 78% year-over-year to $187.4 million. This growth has caused the brand to struggle to keep viral products in stock. And believe me, E.L.F. isn’t exaggerating about this. I’ve personally been to Target and Walmart’s where displays are absolutely stripped down with a few older products lining them. If something new is released at a mass retailer you better ran over to grab it because if you miss out you won’t see it in stock till months down the line. For example, Halo Glow Liquid Filter launched, sold out, and was impossible to find in stores for several months (or at least here in New York that was the case).
For a while I was convinced it had something to do with the pandemic and supply issues but it looks like E.L.F. is just a viral sensation that keeps selling out of stuff due to the buzz surrounding it.
Mr. Aminn is quoted as saying, “We’re a viral sensation. “We couldn’t keep them in stock. We actually have quite a few out-of-stocks, just given the strength of the innovation that we’ve had that builds upon itself.”
Facts are facts, E.L.F. is a highly affordable brand that’s very appealing in today’s economy however, even if they economy was in a strong place the brand would still likely still see growth as they rapidly introduce “dupes” of a lot of mid to high range products. Supergoop, NARS, Charlotte Tilbury, no brand is immune to E.L.F. creating a more affordable version of products by these brands. And with giant influencers endorsing these products sales continue to grow daily!
So, the next time you step into your local Target and Ulta and see empty shelves just know E.L.F. is actively working to get those shelves restocked with your fav budget picks!