Walmart Start is a New Accelerator Program for Emerging Beauty Brands
Niko Pajkovic — March 2, 2022 — Business
References: walmart & marketingdive
Walmart has announced the launch of Walmart Start, a new beauty accelerator program dedicated to discovering and developing up-and-coming beauty brands.
According to the company, Walmart Start will select five specific beauty brands and provide them with a variety of resources and operational support to help them prepare for a potential product launch, which will then be sold in Walmart stores and online at Walmart.com. Walmart began accepting applications for the new program on February 18 and will stop on March 7; the chosen brands will be announced sometime in May.
The incubator program will include a virtual classroom series, Walmart Connect ad training, access to brand management consultancy, and a range of general mentorship and networking opportunities. Walmart has stated that the incubator is "specially focused on preparing brands to execute a potential 1,000+ store and online launch at Walmart in the next year."
Image Credit: Walmart
According to the company, Walmart Start will select five specific beauty brands and provide them with a variety of resources and operational support to help them prepare for a potential product launch, which will then be sold in Walmart stores and online at Walmart.com. Walmart began accepting applications for the new program on February 18 and will stop on March 7; the chosen brands will be announced sometime in May.
The incubator program will include a virtual classroom series, Walmart Connect ad training, access to brand management consultancy, and a range of general mentorship and networking opportunities. Walmart has stated that the incubator is "specially focused on preparing brands to execute a potential 1,000+ store and online launch at Walmart in the next year."
Image Credit: Walmart
Trend Themes
1. Beauty Incubator Programs - The rise of beauty incubator programs by big retailers paves the way for emerging brands to receive valuable resources and operational support, leading to possible product launches and a stronger foothold in the industry.
2. Virtual Classroom Training - Virtual classroom series has emerged as a new trend in the beauty industry, enabling brands to gain knowledge, market insights, industry trends, and marketing skills from expert professionals without geographical limitations.
3. Brand Management Consultancy - The demand for brand management consultants is increasing as brands seek creative and innovative strategies to stand out in a highly competitive market, leading to disruptive opportunities in brand consulting and marketing.
Industry Implications
1. Retail Industry - Retail industry players, especially big-box retailers, can create win-win situations by investing in incubator programs, enabling emerging brands to gain traction and generate revenue, while also expanding their product offerings and attracting a wider consumer base.
2. Beauty Industry - Beauty industry players can leverage the innovation and creativity of emerging brands to drive industry growth and stay ahead of their competitors, while also gaining valuable insights into emerging market trends and consumer preferences.
3. Consulting Industry - As the demand for brand management consultants increases, consulting firms can seize opportunities to innovate new business models, pricing strategies, and marketing approaches to provide clients with competitive advantages and differentiate themselves from rivals.
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