Sally Beauty (SBH) Adds BOPIS to Boost Omni-Channel Capacity
Consumers growing inclination toward online shopping is encouraging retailers across the board to boost their digital offerings. Online shopping, owing to its convenience and reliability, is being widely preferred amid the ongoing coronavirus pandemic. Well, Sally Beauty Holdings, Inc. SBH has also been ramping up its omni-channel capabilities to tap the boom in the digital realm. Progressing on these lines, the company unveiled the countrywide launch of the Buy Online, Pick Up In-Store (BOPIS) service.
Let’s take a closer look.
Digital is the Way to Go
Sally Beauty’s BOPIS service is expected to establish a connection between in-store and online shopping experiences. The BOPIS facility will help customers reserve products online and pick them up from stores. Apart from this, the company’s omni-channel services include curbside pick-up, e-commerce ship-from-store capabilities and mobile app ordering.
Speaking of mobile app capabilities, Sally Beauty continues to meet consumers evolving digital shopping needs through its revolutionary ColorView Technology. The ColorView feature enables customers to virtually try on a number of products, before they actually purchase it. Markedly, the company is making use of its digital channel for providing expert solutions to customers who color their hair home. The ColorView feature is available at select Sally Beauty stores and on its mobile app. Notably, the company’s mobile app has more than 1.3 million members.
Apart from this, the company recently launched the DIY University by Sally Beauty, an educational initiative to meet the needs of do-it-yourself (DIY) customers. Through this initiative, the company offers expertise on hair color, hair care and nail routines carried out by DIY customers at home. We note that the company is undertaking prudent efforts to offer enhanced digital experiences for its DIY customer base.
Clearly, Sally Beauty’s endeavors indicate that it is resorting to every measure to enhance its digital strength and boost online sales. Markedly, the company witnessed significant e-commerce growth during the fourth quarter of fiscal 2020. Going ahead, the company plans to re-platform the Beauty Systems Group’s digital experience by adding more fulfillment options as well as providing more service for pro customers. It has also been augmenting online assortments, while also improving credit facilities on its e-commerce site.
Wrapping Up
In addition to upgrading digital offerings, the company has been focusing on enhancing strength in areas such as merchandising, BSG store operations, marketing and supply chain. It has been progressing well with cost-curtailment efforts, by focusing on reducing promotional expenditures.
We expect such well-chalked efforts to help uplift the company’s performance in the forthcoming periods. This Zacks Rank #4 (Sell) company’s shares have lost 12.2% in the past three months compared with the industry’s growth of 3.9%.
Looking for Solid Retail Stock? Check These
Capri Holdings Limited CPRI, flaunting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 4.1%. You can see the complete list of today’s Zacks #1 Rank stocks here.
Target Corporation TGT has a long-term earnings growth rate of 7.2% and a Zacks Rank #2 (Buy).
Dollar General Corporation DG, also with a Zacks Rank #2, has a long-term earnings growth rate of 11.1%.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Target Corporation (TGT) : Free Stock Analysis Report
Dollar General Corporation (DG) : Free Stock Analysis Report
Sally Beauty Holdings, Inc. (SBH) : Free Stock Analysis Report
Capri Holdings Limited (CPRI) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
