Beautytech: An Opportunity To Connect With Consumers In A New Way

At CES (Consumer Electronics Show) in Las Vegas 2020, L’Oréal unveiled “Perso”, a smart skincare device capable of using AI (artificial intelligence), location data and user preferences to formulate a personalized moisturizer. The device should go on sale in the course of 2021. A priori, this innovative device should also be able to produce a Malaysia Phone Number List   foundation and lipstick for customers and especially customers who intend to acquire it. Nicolas Hieronimus, deputy general manager of the number 1 company in the cosmetics industry sector, said on this occasion that L’Oréal was commite to becoming the leader in beauty technologies, and that Perso was the first step in an exciting, promising adventure that is not just a trend.

Conversational Marketing, the Complete Guide Intermediate Conversational Marketing, the Complete Guide Conversational Marketing, the Complete Guide To download Today, L’Oréal is far from being the only specialized company to have launched into beauty technologies, which we will call in this article “Beauty Tech”. Although this idea of ​​a beauty technology dates back to the late 90s (Cosmopolitan magazine put its name to “virtual makeover” software in 1998), it’s only recently that big brands have started to invest massively in this sector to offer new types of services to consumers. There has been a recent surge in public interest, largely due to advances in smartphone technology, but also due to the growing threat from independent and digitally native beauty brands, which are continually increasing their market share and revenue by leveraging social media and influencer marketing .

 

 

The New Generation Of “beauty Tech” Startups

From there, the big names in the cosmetics industry cannot afford to let this particularly young audience slip away to companies that may come to compete with them in a few years. Thus, for established brands, Beauty Tech represents a chance to connect with consumers, especially younger ones, in a new way. This opportunity has more to do with the promise of IoT (internet of things) and AI than competition from influencers on YouTube and Instagram. Augmented reality beauty apps will allow users to try on all types of lipsticks from a brand in minutes, without having to travel or enter a store. This is foreshadowed by smart devices like Perso, which will allow brands to offer personalized experiences at scale, and thereby meet the new needs of their customers.

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L’Oréal, Shiseido and Estée Lauder are three of the biggest cosmetics companies in the world. And they are also among the most active brands in Beauty Tech. To better understand how technology will transform the cosmetics industry. We’ll take a look at what these three leading companies are up to. And what technological advancements they aim to see in the near future. The new generation of “Beauty Tech” Startups Station F. Became the largest startup campus in the world when it opened in 2017. Station F’s facilities. Based in Paris and housed inside a former railway depot. Provide space for more than 1000 startups and startup accelerators, including L’Oréal. L’Oréal’s Beauty Tech accelerator runs for six months. A period during which startups have a workspace at Station F. Opportunities for presentations to investors. And even access to distribution channels of the company.

 

Create A Personal Connection With Smart Devices

Maxime Garcia-Janin, founder of personalized fragrance startup “Sillages Paris”. And alumnus of L’Oréal’s accelerator program. Says the beauty market and trends are changing very quickly because of digital. And that the he evolution of technology changes all the rules. According to him, L’Oréal works with startups like his to better understand. And apprehend the changes caused by the digitalization of purchasing behavior. In addition to working with startups. The French cosmetics brand acquires them most of the time, when they seem promising. In 2018. L’Oréal absorbed “ModiFace”, a Toronto-based technology company specializing in beauty applications including augmented reality.

Among the customers of this Canadian company. There were notably the great rivals of L’Oréal, such as Shiseido, Estée Lauder and LVMH, the global luxury giant. Which owns, among others, Sephora, the chain of stores selling perfumes and products. cosmetics. This acquisition was experienced as a real uppercut by L’Oréal’s competitors. Especially since the AI-based technology that ModiFace has developed, and which is able to establish a diagnosis of the skin. And a face analysis, is similar to that contained in the Perso application. Perso was developed within L’Oréal’s technology incubator, launched in 2012 and made up of physicists. Engineers, UX specialists, product designers and data specialists.

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