NIQ and Ulta Beauty are teaming up.

The data platform and the beauty retailer are collaborating on an exchange of data, which means Ulta Beauty will provide sales data for NIQ’s “Full View of Beauty” channel, which will combine the sales data with consumer insights to “provide a comprehensive view of what consumers buy, where they shop, and why,” said a joint statement.

In the same vein, NIQ will become a primary beauty insights panel provider. NIQ’s consumer panel has 250,000 panelists, and it tracks full shopping trips both online and offline, the statement said.

“We’ve partnered with several beauty retailers over the last year,” said Jacqueline Flam, managing director, beauty and health at NIQ. “We’re thrilled to be collaborating with Ulta in this type of deep way, both from their point-of-sale data and their inclusion in our Full View of Beauty, which is coming later this year, and then also deeper by becoming their panel of record. It helps them to make really informed data-backed decisions across all of their merchandising, as well as other key decisions for their business in terms of their mix.”

Flam sees benefits for brands as well, including those in more emergent business stages. “A lot of beauty brands, under a few hundred million dollars in sales, kind of live in this data desert where they don’t invest in data and insights to be able to make decisions,” she said. “Being able to democratize their ability to get data and insights that are vetted by a retailer like Ulta is really powerful. It allows them to make decisions that have them showing up with stronger plans, whether that’s innovation or plans to go to market.”

Flam also remarked on Ulta’s performance in skin and hair care, “as well as everything they’ve started to do in wellness,” she said. “It’s an area that we’re watching especially closely to see how the activity they have happening in terms of the new space allocated to merchandising is going to affect the broader beauty space. We’re watching wellness very closely.”

Added Lauren Brindley, Ulta Beauty’s chief merchandising officer, “Ulta Beauty is a leading authority on beauty and consumer trends, informed by our nearly 47 million loyalty members and unmatched insight into how consumers discover, explore and shop the category. Our collaboration with NIQ will help translate that insight into smarter decisions for our business and our brand partners, reinforcing our commitment to building brands and driving growth across the beauty ecosystem.”