The company has laid out its strategic priorities and long-term financial targets for fiscal 2022 through 2024 at its virtual analyst and investor conference this week.
The beauty giant is launching same-day delivery in select markets, and introduced “Beauty to Go,” a commitment that buy online, pick-up in-store orders will be ready for pick-up in two hours or less. Ulta rival Sephora recently said it was rolling out a new, proprietary, same-day delivery service. Additionally, Ulta Beauty plans to open 50 new stores in the US per year. But international expansion plans remain on hold.
In other initiatives, the retailer is launching a partnership with Google to leverage Ulta’s virtual try-on tool for lipstick and eyeshadow with select brands within Google’s Search and YouTube platforms. Ulta also announced a strategic investment and partnership with Adeptmind, an AI retail technology company, to power a new personalized search engine for the retailer’s “digital store of the future.”
“The new digital store is where we seamlessly merge content with commerce to help guests find what they are looking for, and introduce them to products and services they didn’t know they need,” said Prama Bhatt, Ulta’s Chief Digital Officer, at the meeting. “We will have an unmatched source of personalized beauty information and use each opportunity to anticipate their beauty needs. It will make shopping and exploring for beauty online even more fun and functional, and with our new design system, we can create culturally relevant and inspiring content and experiences at the speed of beauty.”