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Technology is rolling over every industry, be it entertainment or automobile, companies are adopting the latest tech trends to make their products more useful and personalised for users. And the cosmetics industry is no exception, beauty brands are actively using technology to bring out innovative products.
Growth In Beauty Industry
According to Allied Market Research, the cosmetics industry is estimated to reach $463.5 billion by 2027 with a CAGR of 5.3% from 2021 to 2027. The role of technology in this tremendous growth cannot be ignored. With the help of technologies such as artificial intelligence and augmented reality, beauty companies have introduced many worthy products. Brands such as L’Oreal, Dior and others are investing heavily to integrate tech and beauty products. This massive growth in the cosmetics industry is expected to keep this positive trend in the following years. Along with other reasons, eCommerce has also impacted the growth of the cosmetics industry. Now more people have access to online shopping platforms than before and this has helped beauty brands to increase their sales by selling globally through eCommerce.
Top 5 tech trends that are bringing a revolution in the beauty industry:
In the past few years, beauty companies have invested heavily in research and development for bringing in new products that are personalised for customers. People want products in the market which fulfil their needs and companies are trying their best to meet those expectations. Using technology in product innovation, companies are constantly progressing towards creating products that match the needs of the customers. Let’s have a look at some of the best tech trends in the beauty industry:
1. Personalisation And AI
Who doesn’t like products curated exclusively for them? Beauty companies know the answer to this question and they understand the need of giving personalised products to their customers. Gone are the days when you had to struggle for finding a perfect shade of foundation and lipsticks. Lancôme, a subsidiary of L’Oreal, has invented a custom foundation making the machine named Le Teint Particulier, that can help you find the exact match foundation for your skin tone. Here’s how it works:
- First- Using a colourimeter shade of your skin is scanned at three specific points: forehead, cheek and neck. Then, the device analyses the data collected to find the exact match of your shade.
- Second- To make the results more accurate, an attendant asks you some basic questions about your skin type, desired area of coverage and the shade you prefer.
- Third- A computer runs the data collected from the device and your preferences, using a proprietary algorithm. Based on the algorithm it chooses, measures and mixes cream pigment to create your personalised shade.
You can also save your personalised shade and get it refilled when you need it. Similarly, beauty brand Liphue gives you an option where you can make a personalised shade of your lipstick. These trends reflect that in the upcoming years the beauty companies can bring in more personalised products in the market.
2. Virtual Try-on features
There is no doubt that almost all the industries are now using eCommerce to reach a wider customer base. Likewise, people are buying more and more beauty products online. With the massive improvements in image recognition technologies, virtual try-on have become even more effective. Brands such as Sephora, Garnier and others have features that let you virtually try on different shades of makeup products. You can try on different looks and see how a particular product shade will look on your face.
At present these apps might not be as effective as real but it is a huge accomplishment for the industry. They can now offer people the facility to try new styles while sitting in the comfort of their homes. In the upcoming years, we can witness more accurate try on features from beauty brands.
3. Smart Skin Care Devices
Now you can have your skincare guide or expert on your mobile phone. Taiwan's New Kinpo Group has introduced a device named HiMirror that can rate the health of your skin. It works in a very simple way, it takes pictures of your face and using artificial intelligence scans the pictures to find out problems.
It can tell you if you have problems like wrinkles, redness, dark spots, pores, fine lines and more. It is capable of giving you a daily analysis of your skin so that you can check how well you are improving. Further, based on your skin problems it can send you personalised beauty tips.
This may change the way people take care of their skin. They can have a skincare consultant in their pocket that can help them to make skin healthier. And the best thing is people get all this while sitting in the comfort of their home.
4. Printed makeup
You might have never thought that one day a machine will be capable of doing makeup on your skin. But P&G has made it possible by launching a makeup printer named Opté. It has an inbuilt camera that takes 200 frames per second and a microprocessor then analyses the data to give you a perfect and toned makeup.
The small device scans the skin and then applies makeup on your skin very precisely. This can help you to hide age spots, burst blood vessels and other blemishes. Using technology it can apply makeup with more uniformity and accuracy. Once it becomes more readily available in the market it can change the way people get their makeup done.
5. 3D or e-makeup
Technology gives you the liberty to get a makeup look without actually wearing any makeup. This is possible with augmented reality technology and highly inspired by the unprecedented increase in the craze of Instagram and Snapchat. Young people use filters to try on different looks and take pictures.
This has made it extremely easy to get a makeup look. All you have to do is select a filter from the thousands of available choices and you are done. People find the concept of e-makeup very useful for getting a better digital look.
Technology In Trade of Cosmetics
Technology is not only limited to product innovation but it has a role in the trade of beauty products. Now more and more companies are choosing eCommerce sites along with their existing sales pattern. This trend is not only limited to industry leading brands, many startups or even retail sellers have started their online stores to sell their cosmetics products.
One reason for this is that eCommerce platforms give them a wider reach and a new audience to showcase their products. This eventually leads to more sales and more profits. Companies are using the technology to go global and sell in different parts of the world. Further, customers also find it useful because they can buy products from a foreign brand using the eCommerce platforms.
The beauty industry is witnessing tremendous changes and growth. Now people no longer demand what companies have to offer but they want the products that are customised for them. Apart from the better look, getting personalised products also makes the consumer feel more satiated. From robotic makeup in the form of printers to providing personalised foundation shades, beauty brands are trying hard to fulfil the exclusive demands of people.
However, some experts question the accuracy of these products. For instance, some experts say that skincare devices can easily be fooled by the lighting conditions of the room or the leftover makeup. Further, people also mention about the prices of these devices that they are way too expensive and are not inclusive. Despite all this, it is a tremendous achievement for beauty brands to innovate such products. In the upcoming years, we can see more such products and improvements in the existing ones. And this leaves no doubt that the beauty industry can grow massively in future.
RVS Media can help you to take up your cosmetic business online by providing top-notch eCommerce development services. You can get a customised web solution curated especially for your business. Contact us today.
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