While giant retailers such as Wal-Mart and Macy's are closing some of their store's location,
Ulta Beauty plans on opening up hundreds of stores in hopes of gaining brand recognition. The beauty retailer says it will open around 1400-1700 stores from its current 900.
Founded 26 years ago, it has been slowly working towards increasing its brand awareness first through national TV ad back in 2015 and now through the use of social media. In additionally, the retailer is also trying to build its brand loyalty by shifting from broad discounting and more towards loyalty focused promotions. Like its Ultamate Rewards loyalty program which gives members perks for shopping at its store, which represents more than 90% of its sales.
Ulta's marketing exposure strategy rely on intensive store outlets to get brand awareness. At this point in time, the retailer's life cycle is at the market growth stage. Thanks to its marketing strategy of expanding assortment, growth of its hair salon business, and its loyalty program; Ulta's current share of 3% will double according to Stifle analysts.
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