How Tech is Making Its Mark in the Beauty Industry

When considering R&D investment for new technologies, beauty firms should analyze major trends in tandem with data and analytics potential, especially as younger, independent brands become more creative and big brands make acquisition agreements. Diverse, inclusive goods may be built in the spirit of personalization—using algorithms to process client data and delivering a one-of-a-kind service component can increase engagement and attract new customers.

Companies may also utilize data to resolve irregularities in client beauty routine maintenance, such as by establishing loyalty program alternatives. Data trends may also advise firms about new demographic preferences, such as rising markets in male personal care, child-focused products, aging population representation, and prospects in China.

Using Algorithms and Machine Learning from Consumer Input

Algorithms may be created in a number of ways to maximize product personalization for customers when working with large data. Beauty companies can detect the present status of a person's skin or hair by examining their physical attributes. Consumer data may be utilized to refine high-quality skincare, cosmetics, perfume, and haircare product formulae for each unique client. Chatbots employ data to give customized, relevant information along the sales funnel, while matching engine algorithms might propose or categorize the appropriateness of pre-existing items.

To make these processes work, brands require customer involvement. FOREO's LUNA fofo, for example, employs sensors to develop massage routines for customers and is coupled with an app that remembers consumer data to adapt for each user. Furthermore, smart serums may use data to learn more about skin issues with each usage and optimize the formula. Curology is one brand that uses machine learning and artificial intelligence to battle acne.

Another example of how corporations may modify based on consumer data and comments is the HelloAva chatbot, whose algorithms assist customers in designing a tailored skincare regimen and selecting items. The Sephora Visual Artist can also propose color hues based on consumer attributes. These are just a few instances of how customers connect with brands. Personalization has grown throughout the business, but emerging technologies can also exploit data in new ways.

Other Forthcoming Technologies that use Data & Analytics

Beauty firms have been able to build billions of ingredient formulas by leveraging computer systems, algorithms, and databases to create goods based on buyer preferences in minutes. However, a more contemporary technology, 3D printing, may potentially leverage consumer data to revolutionize the way beauty sector items are bought and consumed. With the ability to scan and print face masks, print specialized makeup at home, or even print foundation makeup directly onto the consumer's face, 3D printing's capabilities, when combined with beauty industry products and services, have the potential to change the way consumers think about purchasing habits.

With skin health microbiome research now underway, DNA data may be obtained in the future to assist forecast aging and devise preventative strategies utilizing specific skincare products. UV ray triggers, for example, may be utilized to deploy smart sunscreen that lasts longer and functions better. L'Oréal, for example, is already working on solutions to this problem by creating wearable sensors to monitor UV damage and skin pH levels.

Providing digital information, tutorials, and virtual try-on can assist businesses in displaying transparency, considering product ingredients, and educating consumers. Smart mirrors that provide beauty routine recommendations and other smart home gadgets can assist in gathering and utilizing data to improve the service capabilities of beauty businesses. Creating linked, integrated beauty systems with apps may help with personalization while also gathering data about consumer behavior and characteristics to improve product quality.

Companies should analyze how they are utilizing big data to improve their products and services to compete for market share and establish a favorable brand image backed by the use of new technologies and personalization approaches, with more educated and engaged consumers than ever before.