Thrive Market enters the beauty industry with a new line of private label products
- Thrive Market, an e-commerce retailer best known for selling organic and natural food products, launched its first-ever beauty brand earlier this month.
- The private label beauty brand, fae – which stands for “for everyone, everywhere” – consists of 26 individual products for all skin, body and hair types at competitive prices compared to major brands.
- The launch comes as shoppers are increasingly turning to private labels to help cut spending.
Overview of the dive:
According to an emailed press release, fae beauty products, which include hair care, skin care and body care selections, will retail for around $6.99.
“Thrive Market’s first foray into beauty with the launch of fae is an investment in their mission to make healthy living affordable and accessible to everyone,” the press release reads.
Some of fae’s products include Instant Refresh Face Wipes and Refills, Fragrance Free Ultra Soft Body Lotion, and Mineral Sun Spray.
The expansion of private label by Thrive Market and other retailers comes as 41% of shoppers surveyed say they are more likely to buy private label amid rising grocery inflation, according to a recent report of the Food Industry Association. Seventy-seven percent of shoppers said they plan to continue buying private label products for a multitude of reasons, including value and price, according to the report.
According Statistical, skin care, hair care, make-up, perfume, toiletries and oral cosmetics are the main categories in the cosmetic department. Skincare leads the pack, accounting for 41% of global cosmetics sales in 2021, according to data from the research firm.
E-grocer Misfits Market first private label line, Odds & Ends, launched in mid-April, offering pantry staples including coffee and snacks. The e-grocer was attracted to owning her own full-time private label due to higher margins as well as controlling sourcing and product development, Kai Selterman, the company’s chief strategy officer, said in an interview in April.
This new beauty line isn’t Thrive Market’s first attempt at launching a private label product. Fae is the online grocer’s fourth private label line after Thrive Market Goods, offering food and pantry products; Wellmade, its supplement brand; and Rosey, which offers home cleaning products, said Alyssa Kluge, senior communications manager at Thrive Market.