Digitalisation
The beauty industry is undergoing a digital transformation, especially in terms of e-commerce and social media. According to a report by Euromonitor, online sales of beauty and personal care products are expected to grow by 23% by 2023. This trend is driving the development of new marketing strategies, such as influencer marketing and social media campaigns. Consequently, it is also driving a greater need for relevant marketing skills in salons, retailers, and similar small businesses.
Virtual Try-On
Virtual try-on technology is being used by beauty brands to allow consumers to try on makeup virtually, using augmented reality (AR) or virtual reality (VR) tools. This technology allows consumers to see how a product will look on their skin before making a purchase, reducing the risk of buying the wrong shade or product. As more and more shopping moves to online digital spaces, this gives customers the quality of in-store purchasing with the convenience of online.
Personalisation
Personalisation is a key trend in the beauty industry, with consumers seeking customised products and treatments that cater to their unique needs. According to a survey by Mintel, 57% of consumers are interested in personalised beauty products. This trend is directly driving the development of new technologies, such as 3D printing for personalised cosmetics.
3D Printing for Cosmetics
3D printing technology is being used to create customised cosmetics, such as foundation and lipstick. Consumers can use a mobile app to scan their skin or choose from a range of pre-existing shades, and the 3D printer will create a personalised product on the spot. Personalised manufacturing has traditionally been too expensive to compete with mass production, but technological advance has allowed for the industry to better supply a diverse market.
Inclusivity
Inclusivity is becoming increasingly important in the beauty industry, with consumers seeking products and treatments that cater to their particular skin tones and types. According to are port by Nielsen, 70% of consumers want to see more diverse beauty products. This trend is driving the development of new shades and formulations, as well as the use of diverse models in marketing campaigns.
AI-powered Skin Analysis
AI-powered skin analysis tools are becoming more prevalent in the beauty industry, allowing professionals to better recommend personalised skincare routines. They can also be used to accurately diagnose skin issues such as wrinkles, blemishes, and dark spots. These tools use machine learning algorithms to analyse images of the skin, meaning that they will become more effective with time and exposure.
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