Benzinga | Sep 16, 2021 01:45PM EDT

Amazon Plans Beauty Extravaganza To Target Early Holiday Shoppers

* Amazon.com Inc (NASDAQ:AMZN) aims to organize a beauty products event in October to lure early holiday shoppers, CNBC reports.

* Amazon is planning October 4- October 25 as per the slide deck sent to beauty brands and consulting firms, challenging Ulta Beauty Inc (NASDAQ:ULTA) and LVMH Moet Hennessy Louis Vuitton SE (OTC:LVMUY) - owned Sephora.

* The Holiday Beauty Haul event will feature multiple product types, including fragrance, men's grooming, and winter skincare.

* The report says that Amazon has been eyeing a bigger pie of the global beauty market worth $500 billion in annual sales.

* CNBC quoted a report that online makeup sales surged 40% in 2020 year-on-year, while sales of "self-care" items like shampoo, face wash products, and lotions climbed 59% Y/Y.

* U.S. online purchases during November and December surged 32.2% Y/Y to $188.2 billion, the report said, citing Adobe Analytics.

* Price Action: AMZN shares traded lower by 0.24% at $3468.61 on the last check Thursday.