Amazon's new beauty store for professionals poses threat to beauty retailers

[turbinetree]

Source: Reuters

Business News
June 24, 2019 / 11:45 AM / Updated 3 hours ago

(Reuters) - Amazon.com Inc on Monday unveiled its online professional beauty store to sell supplies to licensed professional stylists, barbers and estheticians, weighing on shares of other beauty retailers.

It would sell a wide range of brands from Wella Color Charm and RUSK to OPI Professional, and other supplies typically found in salons and spas, Amazon said in a blog post here.

Following Amazon’s announcement, shares of beauty retailers Ulta Beauty Inc fell about 3% and those of Sally Beauty Holdings plummeted 9%.

Stylists can now find almost everything they need to run their business in a single store at low prices, with fast, free shipping in one to two days on eligible orders with Business Prime, Amazon said.

Read more: https://www.reuters.com/article/us-amazon-beauty-products/amazons-new-beauty-store-for-professionals-poses-threat-to-beauty-retailers-idUSKCN1TP21H

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And this oligarchy monopoly whatever you want to call it, made billions, and made millions in after tax profits, and paid fucking zero taxes.......................they are another blood sucking octopus..................enough is enough..............

[customerserviceguy]

1. Got a bricks-and-mortar business?

Change is coming, no matter how loyal you thought your customers were. We have already seen that a couple of decades ago when Wal-Marts started destroying the business cores of small towns across America.

[turbinetree]

2. Yepper spot on.............................

greed is not good...........................

[LanternWaste]

3. I don't think anyone is arguing change will not/should not happen.

Only that that change should be tempered with responsibility and foresight.

[customerserviceguy]

4. So who's job is it

to show those qualities? The person with the bricks-and-mortar business? The person(s) starting an online business to compete with them? Or the customers who flee the familiar old B&M shop for the online business to save a dollar or two?

[LisaM]

5. Amazon is not a "person starting an online business".

They seem to be intent on driving everyone out of business. At this point, they make WalMart look good.

[customerserviceguy]

6. If you're looking for "responsibility and foresight"

from Amazon, that's a pretty long wait you've got there. I'll give them "foresight", they have figured out how to eat everyone else's lunch, but "responsibility" is something they're incapable of. I've flat out quit them.

Maybe the customers who are willing to destroy an existing business that has done them right over the years need to excercise the "responsibility" part. But as more and more B&M's close up, online seems to be the only way to get stuff in the future.

[LisaM]

7. I don't use Amazon, but it's such a losing battle.

Along with their greed and monopoly, the fact that they lock workers in warehouses and search them coming and going from work should be a disqualifier....

[customerserviceguy]

8. That will only last

until they can get robots to do the jobs. It's not that far away.

[Sherman A1]

9. I did over 4 decades in Retail

And I can tell you that Retail has always been changing. Supermarkets and discount stores gutted many Independent Retailers before Walmart came along, they were just a nail in the coffin of what was already transpiring.

The Sector suffers from overbuilding in the 1980s and 1990s, the hedge fund leveraged buyouts loading companies with back breaking, the shift from a career workforce to a predominantly part-time labor model and just these last few years online shopping. It is a perfect storm of negatives in the Sector.

This year and the next few will not be pretty.

[MineralMan]

10. You know who will like this?

All those stylists, barbers, and beauticians. Most work as independent contractors. I'm sure they'll welcome a money saving source that is never out of stock and delivers quickly.

Thousands of them. I'd be interested to hear how they feel about this. Individual workers.

[obamanut2012]

14. Yup, they absolutely will

[stillcool]

11. Amazon does what the rest of the...

big box stores did. Gobble up the smaller stores by underselling them, making it impossible for them to compete. It would be wonderful if the tax laws, and corporate regulations could return us to a competitive market place. But, as it is, I can't get all worked up over Amazon for doing what others do better.

[RobinA]

15. I'm Not Seeing

a lot of underselling by Amazon these days. At least not in the things I buy. When I recently went to buy an "only sold at salons" product the low seller by a mile was Penneys. Amazon, Ulta, etc. had it for the same price as my own salon where I normally buy it. They ran out, don't shoot!

[stillcool]

16. if companies can compete..

that's a good thing. Regardless of what the product is.

[Bengus81]

12. Hell...they pose a HUGE threat to taxpayers....

You make $11B in pure PROFIT and not only pay zero Federal income taxes but get a refund of $120+ million those mega Corporations like Amazon are a threat to working class people who DO pay taxes.

[obamanut2012]

13. Amazon should have to pay taxes, but this is a good thing