The time has come, the beauty industry has embraced all things digital. Gone are the days when beauty technology sat in the land of science fiction – we’re now entering an era where the industry’s modern capabilities are being realised through new and creative tech and digital experiences.
As the impact of the pandemic changed people's shopping habits for good, the beauty industry turned to online platforms and had to rethink its approach to consumers' new beauty and make-up needs.
Brands have had to find new ways to digitally connect with make-up and skincare consumers over the last few years, with AR social media filters and AI software personalising the world of beauty.
The market size of AI in beauty and cosmetics was valued at $2.7 billion in 2021 – a figure expected to climb to $13.3 billion by 2030, with using technology in beauty spaces showing no signs of slowing down.
The shift of digital beauty into the collective consciousness was perhaps inevitable, but will this momentum last?
Three key insights:
- 34% of consumers are considered ‘digital beauty’ shoppers, with 21% digital shoppers in skincare, 19% in hair care, and 16% in colour cosmetics.
- Global consumers are four times more likely to buy make-up and personal care products online than pre-pandemic, and one in five have moved online for virtual consultations.
- 35% of shoppers say they’re reluctant to buy beauty products in stores again even after COVID-19 has passed.
Extended reading:
💻 The introduction of VR beauty, the rise of AI influencers, the impact of the metaverse, and the surging popularity of 24/7 social selling are changing the beauty landscape. But has the beauty tech boom gone too far?
💄 Cutting-edge technology and digital trends are revolutionising the beauty industry, enhancing people's beauty and make-up experiences to provide a more personalised and tailor-made approach.
💡 The 2023 Consumer Electronics Show in Las Vegas showcased new products and technologies to emerge in the world of beauty, showing what's to come from this blossoming beauty and tech relationship.
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