Multiple industries are investing in generative AI technology to enhance their products and services and the beauty and wellness industry is a forerunner in this respect, where ‘beauty tech’ and virtual shopping tools are shaping an all-new consumer journey. According to the latest market intelligence research report by InsightAce Analytic, the global Artificial Intelligence (A.I.) in the Beauty and Cosmetics market size is expected to reach US$ 13.34 Billion in 2030, promising a CAGR of 19.7% from 2021 to 2030.
Integrating beauty innovations into the consumer experience is a must-have for all beauty brands and retailers as a means of differentiation. Consumers expect an online and instore immersive shopping experience that incorporates these experiential touchpoints. Brands are being forced to rethink their strategies, integrating interactive AR and AI virtual try-on to bring their brands to life. High-touch digital experiences are also enabling brands to understand, engage, and connect with their consumers better—especially during the rise of digital shopping experiences versus in-person.
With over 900 million downloads globally, Perfect Corp is a company dedicated to transforming how consumers, content creators and beauty brands interact through AI and AR technologies. Working with over 300 brands including Estée Lauder, Barry M, Charlotte Tilbury and MAC Cosmetics, Perfect Corp aims to use this technology to revolutionise beauty brands and the way they operate. It’s try-on solution allows brands to develop their offerings across seven product categories including foundation, mascara, lip colour, blush, eyelashes, eyeliner, and eyeshadow. Customers can try on beauty products virtually to discover their perfect shade. It has been proven to boost both customer satisfaction and purchasing confidence.
Ecommerce took priority during the pandemic and has encouraged brands to provide consumers with an easy way to have a personalised shopping experience online. Personalisation is a big selling point for beauty and skincare brands. Skin + Me, uses images and information from customers’ skin to prescribe the correct products for them. New technology companies are taking this one step further, by using generative AI to create images that predict how a person’s skin might change over time and making recommendations on best products to use.
Curology has mastered the personalisation game. They combine machine learning and a human consultant to create bespoke subscription-based products. They ask their users to upload an image of their skin and then diagnose and provide the right skincare solution picked by a registered dermatologist or physician. Artificial intelligence has gained traction in 2023 through applications using ChatGPT. This can be integrated into websites and mobile apps to understand and answer complex consumer questions in real time using a mixture of knowledge about the brand and its product catalogue and information about the category in general.
ChatGPT does this using natural language so consumers can ask questions in a natural way and receive responses in the same manner. The advantage of these integrations by companies is in ChatGPT’s 24/7 ability to ensure an assistant or beauty advisor can be available at any time to help with customer service questions, such as delivery times as well as guiding a customer through the shopping journey. ChatGPT can also take the personalised recommendations of existing AI-powered applications to a deeper level. Once items have been recommended, customers can ask questions about specific products, seek advice on skincare routines or get tips on techniques to apply the recommended colour cosmetics. AI and AR have certainly taken the shopping experience to a new level, through combining technology with a human touch in a seamless experimental journey.
How we can help you
Bespoke Advantage is a specialised brand consultancy supporting our clients in developing and building their brands across the marketplace. We work with award-winning well-established beauty and wellness brands, retailers, investors, trade bodies and embassies based in the UK and internationally. If you are an existing brand looking for expertise to expand your business across the marketplace, get in touch, we would love to hear from you.
‘As a Queensland-based company, we were determined to tap into the European market and establish a strong presence. From the very beginning, Bespoke Advantage demonstrated a deep understanding of our export goals and objectives. Their comprehensive knowledge of the European market, coupled with their extensive network of contacts, enabled them to connect us with key decision-makers and influential stakeholders in our target countries. Their strategic guidance and insights were invaluable in shaping our export strategy and positioning us for long-term success.’
‘With the assistance of TIQ, we engaged Bespoke Advantage to help us enter the highly competitive but lucrative UK market. During the last few months Janet and her team have worked diligently to introduce and expose Perfect Potion to buyers and retailers we would never have been able to reach being based in Australia.’
‘Janet has a wealth of experience across retail, buying and marketing. She conducted a full strategic review of our cross functional business and the travel retail market to develop a comprehensive buying and quality control strategy that was signed off at board level. I highly recommend her as an asset to any business.’
‘Through Janet’s management skills, expertise and proven track record on the job she successfully managed the purchasing of our retail operations and ensured the integrity of our brands in-stores. Her enthusiasm and total dedication, delivered results in any project she was involved in.’
‘Janet has excellent beauty market knowledge. Level headed with clear vision, direction and the ability to drive business forward, Janet led the teams through a complete product design change advising on what the key marketing messages should be, incorporating her technical knowledge and beauty expertise.’
‘Absolutely fantastic course. Condensed learning from Janet, an expert in developing beauty brands. Also, valuable introductions to expert professionals, in the Masterclass sessions. In 12 weeks, you will learn from Janet, what would take years to learn by yourself. A very worthwhile investment’