Ask 100 people when exactly “the holiday season” begins and you might get 100 different answers. But, at least for now, Bath & Body Works has chosen one clear date.
“The consumer mindset seems to shift [the holiday season] a little earlier and earlier,” said Kristie Lewis, evp of merchandising at Bath & Body Works. But while some holiday-themed displays have already crept into stores, the company’s “technical, kind of lights-up, curtains-up” opening to the season falls on October 26.
On Monday, October 26, the fragrance and body-care retailer went live with its holiday-themed campaign starring actress Zooey Deschanel. The “Elf” and “New Girl” actress fronts the Season of Wonder collection, which includes an assortment of hand soaps, body care and fine fragrance in returning holiday scents like Snowflakes & Cashmere and Moonlit Goddess, as well as a new scent, the white chocolate-coconut blend Vanilla Cocoa Flurries.
Like with many retailers, the holiday gifting period can be a make-or-break period for Bath & Body Works: Lewis said the holiday shopping season drives roughly 40% of the company’s overall business. According to its Q4 2025 earnings report, Bath & Body Works cleared $2.7 billion in net sales in the quarter ending on January 31, a 2% decline from the same period a year prior. By contrast, the company reported net sales of $1.5 billion and $1.6 billion in Q2 2025 and Q3 2025, respectively.
For 2026, the stakes are even higher: Since Daniel Heaf assumed the CEO position in May 2025, the company has been implementing what he deemed the “Consumer First Formula,” a turnaround plan to return the company to growth after declining sales. In 2026, many of those strategies have come to fruition, including Bath & Body Works’ expansion to Ulta Beauty and Amazon, its first major celebrity ambassador in Hilary Duff, and the launch of a new drop format for on-trend, limited-edition fragrances.
Add to that pressure the fact that many consumers may be especially value-conscious this holiday season.
“This year, particularly, there are some macro pressures on everyone, not just Bath & Body Works,” said Veronique Gabai-Pinsky, chief brand and product officer of Bath & Body Works. “I think the consumers are going to look at how to bring the joy that everybody needs, how to bring that feeling of wonder and that sense of magic in a world that is pretty chaotic — and with a reasonable amount of pressure on their wallet.”
While some analysts predict higher spending this holiday season compared to 2025, consumers may also tighten their wallets amid economic uncertainties. The University of Michigan’s consumer sentiment index fell to 46.3 in early October 2026, a 3.7% decrease from September and 13.6% drop from October 2025. The National Retail Federation, however, anticipates that holiday spending during November and December will reach over $1 trillion, with a 4.2% growth over 2025.
Bath & Body Works will roll out its usual holiday scents like Fresh Balsam and Winter Candy Apple, but to make the most of the season, it turned to Deschanel. Playing on the nostalgia around her role in the 2003 Christmas movie “Elf,” the Deschanel campaign will appear on billboards in markets like New York City and Los Angeles, across streaming platforms, and on social media platforms like TikTok and Instagram. Deschanel has also curated a gift guide of her favorite holiday items from the company, which includes a bear-shaped candle holder and the Snowflakes & Cashmere three-wick candle.
“We all remember her as the little elf, but she has that charming approach to life,” said Gabai-Pinsky. “And when we were creating Season of Wonder, we were always thinking: Who could personify that spirit of wonder, of wit, of desire to create magic?”
As part of its holiday lineup, Bath & Body Works will also relaunch A Thousand Wishes, a pink prosecco and peony scent and one of its “icon” scents for the season. Throughout the holiday season, the company will roll out a flanker to the scent, A Thousand Wishes Granted, a new fine fragrance mist formulation with a higher fragrance concentration, and a limited-edition, $99.95 Swarovski crystal-engraved version of the eau de parfum, of which only 1,000 bottles will be made.
With the exception of the $99.95 limited-edition crystal bottle, Gabai-Pinsky said Bath & Body Works is aiming to keep its prices consistent. Despite the upped fragrance concentration, the reformulated A Thousand Wishes Granted fine fragrance mist will retain its $18.95 price tag.
“We know that we can raise the volume around those beautiful fragrances with higher quality,” said Gabai-Pinsky. “And what we are not going to gain on margin, we’re going to get on volume. This is really the strategy we’re going after.”
With affordability in mind, consumers are showing an appetite for fragrance in the mass market channel. According to market analysts Circana, U.S. sales of mass fragrance grew 15% by dollar sales and 7% by units sold in the first half of 2026. But with more appetite comes more competition.
Sol de Janeiro similarly launched “intense” versions of its famed body mists in August. Fellow mall giant Gap is back in the fragrance category with the launch of a revamped fragrance line in July, which now includes the gourmand perfume Bliss for the holidays. And big-box retailers like Target and Walmart are expanding their fragrance assortments with brands like layering-centric line Haeze and musician Megan Moroney’s debut perfume, respectively.
Part of Bath & Body Works’ strategy to confront increasing competition has been to spread its distribution network beyond its own stores. In October, it expanded its holiday assortment across all Ulta Beauty stores nationwide. In addition to classic holiday scents, Ulta will also be the exclusive retailer for the holiday launch Pink Suede, available in body, candle and fine fragrance formats. Amazon will receive about 35% of the company’s overall holiday offerings, as well, Lewis said, but will not carry any exclusive products.
Distribution strategies aside, Gabai-Pinsky, who joined Bath & Body Works in May as its first-ever chief brand and product officer, believes the company has the authority in fragrance to stand up to a competitive market.
“We offer outstanding quality at a price everybody can afford, and at a price everybody can feel good about, and can feel good about gifting without having to put pressure on their finances,” she said. “So I think we have a particular chance to win this year, given the macro pressure in the environment.”
Some consumers have already begun their holiday shopping in October, but others are waiting for what some consider the true start of the holiday shopping season: Black Friday. Lewis said Bath & Body Works will offer a straightforward bundling strategy on Black Friday of buy-three-get-four across its assortment, followed by discounts throughout the weekend. The company also has its own discount days to get consumers in stores: the category-specific discount periods of Candle Day and Body Care Day, the 2026 dates for which have yet to be announced.
When exactly the holiday shopping season ends, however, is also up in the air; Gabai-Pinsky said some final holiday shoppers may still trickle into the store up through early January. There are always gift card shoppers, after all.
