Ulta Beauty, previously known as Ulta Salon, Cosmetics & Fragrance, Inc., is a retailer of both low-end and high-end beauty products in the United States. Founded in 1990, the company had 1,355 stores across the United States in 2022. Operating in the United States means that the company retails in a market that is both significant in size and is continuing to grow. Projections for the revenue of the cosmetics industry in the United States suggest that growth will see revenues of nearly 22.5 billion U.S. dollars by 2027. Beauty products are sold through several different channels, including grocery retailers and mass merchandisers, and Ulta Beauty is one of the leading beauty retailers in the North American Country.
Ulta Beauty’s role in the market
Ulta Beauty is widely recognized as a major player in cosmetics retail. Between 2012 and 2022, the company’s net sales revenue mostly experienced steady growth, increasing from 2.22 billion to 10.2 billion U.S. dollars, while income increased from 172.5 million to 1.2 billion U.S. dollars. As of 2021, Ulta Beauty was also one of the leading beauty e-commerce in the United States, with online net sales amounting to about 1.9 billion U.S. dollars.
E-commerce and online presence
Brand awareness for Ulta Beauty reached a share of 70 percent in the United States in 2022, and the retailer’s position in a ranking of the most followed beauty brands on Instagram serves as further proof of its popularity. Ulta Beauty’s online presence is indeed very strong, and as of July 2022, ulta.com registered almost 71 million monthly visits in the United States, making it the leading beauty retailer website in the country. Furthermore, in 2022, Ulta Beauty also gained first place as Gen Z’s favorite destination for in-store shopping, followed by Sephora and Target. In the same year, quarterly visits to the retailer's stores experienced a general increase.
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Research expert covering Cosmetics, Personal Care, Health & Hygiene industries.