Cosmetics
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Hi-tech cosmetics products and services give an individual look
George Henry, Associate Analyst at GlobalData, explains how digital technologies and personlalization are meeting individual consumers’ needs in the cosmetics sector
P
ersonalized beauty is the design of products and experiences tailored to meet individual needs and creates a two-way relationship between brands
and consumers. Personalization has become a core focus for the beauty industry, as digital lifestyles present consumers with greater options that align with individual needs and preferences. Manufacturers that create bespoke products gain ‘granular’ levels of customer information that most traditional brands would not have access to. This allows companies to gain unique insights from their consumer base and use this data to better optimize their product offering. From self-learning algorithms to data collection for hyper-specificity, personalized beauty has revolutionized the cosmetics industry; and will remain a core consumer trend going forward. Personalized beauty has emerged to meet the demands of previously neglected consumer segments of the cosmetics market. It has gained momentum in the mass-market as consumers crave products tailored for specific needs; particularly as cosmetics are inherently individualistic. In turn, more brands are striving to reach consumers that have previously not been catered to by generic products produced for the mass-market.
Halal beauty is one instance of personalization
George Henry, Associate Analyst at GlobalData.
that has emerged in response to a specific need for ingredient-conscious Muslim consumers. Other examples include hair care for women with African-Caribbean hair, as well as skincare products for Asian men.
‘Beauty tech’
The Internet has removed many previous inhibitors to traditional brand relationships as consumers are now able to communicate directly with manufacturers through platforms such as social media. Digital technologies are becoming vital to the consumer relationship -
indicating the influence beauty technology continues to have. Direct to consumer (D2C) relationships will continue to grow as customers share their personal insights as standard. Such ‘beauty tech’ has led manufacturers to develop product experiences that cater to processes, rather than just the transactional retailing of mass-produced products. Major players are creating their own tech-enabled devices to better the individual steps in personal care routines. For example, new technologies, such as genomics, enable unprecedented levels of analysis at a granular level. The integration of these sciences can be used in cosmetics to identify various individual skin needs, including sensitivities and allergies, and other important details that enable brands to optimize individual formulations. DNA-based skincare is another pioneering category of the beauty market, with market entrants already showcasing the potential that a deeper understanding of genetics can have on personalized beauty. Technology helps manufacturers align with
what customers deem to be important. Ethical consumerism includes the reduction of single- use plastic and is one such trend that can be confronted by brand investment in sustainable alternatives. One example is L’Oréal’s investment in biotech start-up, Carbios, which develops plastic recycling technologies. L’Oréal’s commitment to move to 100% recyclable or compostable packaging by 2025 is supported by the influence these new sciences have on beauty products of the future. Emerging technologies such as Artificial Intelligence (AI), Augmented Reality (AR), and data analysis, empower brands to create ultra- personalized personal care solutions direct to consumers. L’Oréal Perso was unveiled in January 2020 as an AI-powered device that creates personalized skincare, foundation, and lip make-up on-demand. This is supported by omnichannel integration with its Modiface AR app and social media. L’Oréal’s Perso can also analyze trending
Apps can make use of biometric facial recognition and 3D scanning to deliver granular levels of personalization.
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images online to help users mix and match the lipstick colours of their favourite influencers. AI’s ability to personalize formulas enables consumers to broaden their access and try out new trends at their convenience. Its functionality,
Summer 2020
(Photo ©
Shutterstock.com / america_stock)
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