Though beauty has remained a relatively resilient category amid rising prices, tariffs could put a damper on that as they take hold.

• 29% of US adults say they’ll likely cut back on beauty/personal care spending if tariffs raise prices, according to February 2025 data from CivicScience.

That’s why retailers like Walmart, Amazon, and Target are boosting their beauty offerings to drive sales and increase customer loyalty. Here’s how.

Walmart bets on in-store

Walmart is upping its in-store game for its Beauty Event, April 18 through May 31.

• The retailer has launched 40 Beauty Bar pop-ups in stores across the US, where customers can discover new products, talk to beauty experts, and test samples.
• The pop-ups come in addition to an online landing page featuring the best deals and recommended products.

Walmart has added over 40 premium brands to its beauty assortment in the past year, signaling its attempt to make more inroads in beauty.

“They’re ramping up their beauty event,” said our analyst Suzy Davidkhanian on a recent “Behind the Numbers” podcast. “It’s not new, but they’re trying to elevate the beauty category at Walmart, which it’s not known for, through their marketplace.

Why it matters: Nearly half (47%) of US adults prefer to shop for beauty and personal care products online, according to March 2025 data from ThinkNow Research.

• Walmart’s Beauty Bar pop-ups highlight the benefits of shopping in-store by letting customers touch products and get expert advice in real life.
• Walmart is using its major advantage over Amazon—its physical presence—to increase its share of beauty sales.

Amazon rounds out its assortment

Amazon is also adding more premium and luxury brands.

• Department store Saks opened a new storefront on Amazon with a curated selection of luxury beauty and fashion items.
• Laura Mercier’s new storefront features exclusive bundles, limited-edition products, tutorials, and interactive questionnaires.
• Recently, Amazon hosted its third-annual Summer Beauty Event, offering discounts on premium and luxury brands like Armani Beauty, Estée Lauder, and Kiehl’s.

These new additions complement Amazon’s already vast selection of affordable brands like NYX Professional Makeup and e.l.f. Beauty.

• “A great deal of search happens on Amazon,” said Tarang P. Amin, CEO of e.l.f. Beauty, on a Q1 earnings call. “Obviously, those consumers want the convenience of the speed of being able to get their product. So we see a long growth trajectory ahead with Amazon.”

Why it matters: Amazon plays a big role in product discovery, as Amin noted.

• Over a third (33.5%) of US beauty enthusiasts discover new personal care and beauty products via the ecommerce site, according to September 2024 data from Harris Williams.
• Amazon is covering its bases by offering both high-end and more affordable products.

Target zeroes in on price

Target has doubled down on beauty, too, adding over 2,000 new beauty products in February.

• The new arrivals are aimed at cost-conscious consumers, with prices starting at $1.29 and 90% of items under $20.
• Target has also launched an online Beauty Studio, where shoppers can virtually try on face, eye, lip, nail, and hair color options, and take haircare and skincare quizzes.

This expansion comes at a good time, considering Ulta Beauty is pausing the rollout of its Target shop-in-shops.

• Target operates over 600 Ulta Beauty shop-in-shops, and they’ve opened at least 100 every year since 2022.
• The pause is meant to help both brands “drive efficiencies and leverage the learnings,” said Ulta CEO Kecia Steelman at JPMorgan’s Retail Round Up Conference.
• Ulta hasn’t announced what it will do past 2025, per Steelman, leaving the partnership’s future unknown.

Why it matters: Target has struggled amid heavy competition from Walmart and Amazon.

• The retailer’s net sales were down 2.8% YoY in Q1, while comparable sales were down 3.8% YoY. Net beauty sales were also down in the quarter.
• Focusing on affordability may help Target, especially as consumers seek the best deals.
• However, blowback from reversing DEI policies could continue to weigh on Target’s bottom line, meaning it may have to try even harder to boost sales.

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