Madison Reed has just announced its expansion into Walmart
Walmart is a great partner
The data shows that Walmart offers a compelling partnership with Madison Reed. “We know the core demographic of our customer is age 35 with kids, which aligns with the Walmart demographic,” said Errett. Furthermore, Walmart has evolved as a digital brand and can offer a sophisticated online experience.
“Walmart is committed to expanding its assortment to bring in new brands and products that are innovative, high-quality, and on-trend,” said Creighton Kiper, vice president of beauty at Walmart U.S. “By collaborating with Madison Reed, we’re excited to make prestige hair color more accessible to all.” The company’s diverse customer base is a good fit for Madison Reed. Customers increasingly turn to at-home salon solutions and value retailers like Walmart as consumer spending cools. Walmart’s second-quarter results showed a 5.7% increase in revenue compared to last year.
Greater access to the U.S. consumer
With the expansion into Walmart locations, Madison Reed products will now be available in over 1,500 Walmart stores and on Walmart.com. “Everyone is a Walmart customer! And as a premier beauty destination, we are charged with creating an assortment that will resonate with everyone- from Gen Z to millennials and multicultural customers, as well as more mature customers that all want to look their best,” said Kiper.
The launch at Walmart will include 28 specific products, including its best-selling Radiant Hair Color Kit, Root Perfection, Color Reviving Gloss, Color Therapy Mask, and the Professional Color Tool Kit.
“For us, it’s about open access as an omnichannel brand, giving as many people as possible, in as many channels as possible, access to great quality hair care products,” expressed Errett. She also explained how meeting the guests where they are shopping is a crucial driver for the brand. “Madison Reed is agnostic to wherever the customer wants to enter into the brand, whether it is online, in a salon, or with a retail partner,” said Errett, adding, “When one channel is lifted, the entire brand gets lifted too, which in the end provides more awareness and access to the brand.”
Walmart has been expanding its prestige beauty offerings. “Our feedback shows that customer beauty bags are stocked with both prestige and mass products, so we’re creating an experience that mimics the assortment they are seeking in one convenient destination,” said Kiper.
Madison Reed has experienced strong growth across all its current business channels, including retail partners, direct-to-consumer, and Hair Color Bars. The company announced earlier this year its new loyalty program called Limitless, which includes discounts on products and services, early access to new products, and access to hair color bars for root touch-ups.
Consumers looking for value
The partnership comes at a time when consumers are becoming more conscientious about how they spend their time and money. Professional salon care appointments can be expensive and difficult to schedule. However, Madison Reed can provide its customers with many options to care for their hair. Madison Reed offers services in its 87 Hair Color Bars and through direct-to-consumer sales. The company already has an existing retail presence at Ulta Beauty
Madison Reed’s explosive growth
More and more consumers know the brand, and this recent move will help to expand Madison Reed’s customer base. They can receive the same hair color quality in the Hair Color Bars, at home, or from its many retail partners, with Walmart now being the biggest. While the growth has been expansive, the company has been measured in its approach and scaling. “We are very focused on the use of capital and the economics of the channel,” said Errett. The strategy works as the company revenue continues to grow at 25% year-over-year, and the brand affinity is stronger.