Avon Products, Inc. AVP recently announced the launch of 'Avon On' mobile app in a bid to support micro-entrepreneurs while managing their businesses efficiently. The latest app, rolled out to 17 global markets, is likely to aid Representatives in raising productivity and harnessing the power of their networks via improved social sharing capabilities.
Notably, the launch highlights a major step in Avon's digital transformation, thereby providing high-tech and high-touch solutions. The first bunch of roll-outs includes Mexico, Russia and Philippines along with a further introduction in 25 markets across Europe, Latin America and Africa this July onward.
Some important features of this newly-unveiled app contain order placing, product and promotion notifications as well as quick access to features such as FAQs, contact centres and a social media hub. This hub is expected to support Representatives in reaching out to customers with high-quality brand and product content. Moreover, a 'share your look' feature allows Representatives to yield user generated content in three steps.
Notably, Avon is firmly focused on reigniting and re-energizing its Representatives through various strategic measures. The company has made significant improvements in servicing the Representatives by improving delivery and services at its distribution centers. Earlier, it also adopted a new segmented approach to differentiate between the Representatives, and is rewarding them accordingly. Moreover, the company started imparting training to its Representatives by setting up a new global academy to deliver training in each country.
Additionally, Avon is capitalizing on growth opportunities in the fast-growing e-commerce realm, thus making this platform a major growth driver. The company is committed to improving a digital tools and e-commerce channel to boost sales and Representative experience. It created dedicated e-commerce business units in all key markets, which helped steadily expand the percentage of sales through this channel. By 2019, management targets to double the company’s e-commerce sales in 2019.
Meanwhile, Avon is benefiting from a solid progress on its ‘Open Up Avon’ strategy. This initiative mainly focuses on reviving the company’s direct selling business model, renovating the brand and enhancing its e-commerce platform and other capabilities to aid a performance-driven transformation. Driven by this strategy, it is committed to attain long-term financial targets for 2021.
These positives have aided this Zacks Rank #1 (Strong Buy) company’s shares to rally 24.4% in the past three months, outperforming the industry’s 6.1% growth.
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The Estee Lauder Companies Inc. EL delivered a positive surprise in each of the trailing four quarters, the average being 14.2%. Also, the company carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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Revlon, Inc. REV has an expected long-term earnings growth rate of 6% and is a Zacks #2 Ranked player.
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