New skincare technologies like Virtual try-on (VTO) tools are bridging the gap between the offline and online buying experience. A look at the evolution of Beauty Tech.
The changing market dynamics driven by Industry 4.0 is also compelling beauty companies to invest in advanced technologies. The COVID-19 pandemic posed a challenge to businesses, leading to the emergence of Beauty Tech as a solution for process recalibration and product rejuvenation, says Dr. Neha V Shah, MBBS, DDV, MD, Consulting Dermatologist & Cosmetologist.
Talking to TheHealthSite, the cosmetologist further sheds light on the evolution of Beauty Tech and the latest skincare technologies that are transforming the beauty industry.
The evolution of Beauty Tech
It is the progress in various fields such as artificial intelligence (AI) and machine learning (AI/ML), data analytics, cloud computing, augmented reality and virtual reality (AR/VR), and the internet of things (IoT) that supported the evolution of Beauty Tech.
Due to the pandemic-induced shift towards digitization, an increasing number of brands, including luxury beauty brands, are now engaging with consumers online and seeking to expand their brand personality from offline to online spaces while ensuring a premium shopping experience.
A look at some of the latest skincare technologies
Virtual try-on (VTO) tools, which enable customers to virtually try on color cosmetics such as lipsticks and select the shades that best match their skin tone, are bridging the gap between the offline and online buying experience.
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The game has been taken to the next level with the emergence of smart sensors and IoT devices. These sensors collect real-time data such as UV exposure, skin hydration, and skin health levels to create customized products.
Advanced product formulators are also being developed to deliver real-time customized products. These gadgets are IoT devices equipped with various sensors that collect real-time customer data and use it to tailor products accordingly.
In addition to the advancements in the Beauty Tech space, companies are also improving their CRM competencies and integrating them into devices. The latest CRM solutions employ AI/ML techniques to enable intelligent product searches and facilitate real-time order placement for customers.
Take away
Dr. Neha sums up, “The beauty market in India is poised for tremendous growth with a wide range of offerings and the potential for more innovative globalisation and e-commerce strategies to come.”
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