How has technology changed the beauty industry?

The beauty industry is already one of the fastest growing categories in the consumer goods industry. It is undergoing a digital transformation as social media and e-commerce. E-commerce technologies are enabling brands to directly reach their customers.The key players involved are Unilever, Procter & Gamble, Adimo, Amorepacific Corporation, CFEB Sisley SAS, Elizabeth Arden Inc, Johnson & Johnson, Lancer Skincare, L’Oreal S.A, Shiseido.

Digitalization of Beauty Overview

The Digitalization of Beauty industry is already one of the fastest growing categories in the consumer goods industry. It is undergoing a digital transformation as social media and e-commerce. New widely available e-commerce technologies are enabling brands to directly reach their customers.

By Analysts, Demand for Digitalization of Beauty makeup is easing globally, especially in developed markets, following a strong hiring phase driven by increased social media and selfie adoption. Various brands are using new forms of emerging technology to personalize products and services. L'Oréal is helping customers looking for the perfect foundation shade to match their skin tone with artificial intelligence (AI).

The major driving factors for the Digitalization of Beauty Market is Augmented Reality (AR) to performs photo or video try-on simulation for makeup, hair and skin care. It also helps you measure the exact condition of your skin and observe potential skin changes in live video. The number of beauty videos uploaded to YouTube every month is 1.5 Million. The app's technology can detect changes such as black spots, discoloration, dryness, uneven skin and rosacea.

As COVID-19 keeps shoppers at home and away from offline retailers, more consumers are expected to switch to online platforms to purchase items, including Digitalization of Beauty and personal care products.

Regional Analysis:

The Digitalization of Beauty industry grew by almost 6% last year, with retail sales of about $320 billion. Beauty growth has been solid worldwide, and China is the key driver of the tremendous revenue it has seen over the past few years. Excluding China, the remaining four beauty countries are the United States, Japan, Brazil and Germany, accounting for 36% of the Digitalization of Beauty market.

Salient Features of the Digitalization of Beauty Market

• L'Oréal recently launched Artificial Intelligence and Augmented Reality to perfect foundation shade to match their skin tone.
• It is easier than ever to communicate with customers globally through various types of content, channels and platforms are expected to continue growing strongly digitalization of Digitalization of Beauty market.
• Digitalization of Beauty industry simplifies the selling process of beauty products. This is fastest growing category under consumer goods, due to digital transformation. Digitalization of Beauty has revolutionized the way brands can connect with their customers through social media and e-commerce.