On the beauty-tech trends to watch — and how AI is reshaping everything
Who are you?
— I work as Global Communications and PR Lead at beauty-tech venture Revieve.
What beauty technologies are you the most curious about in 2024?
— In 2024, the beauty industry is experiencing a dynamic shift driven by innovative technologies that promise to reshape the way we approach skincare, makeup, and overall wellness. There are several trends I believe will shape the industry in 2024:
— Personalisation through Gen AI. Gen AI, at the forefront of beauty tech, revolutionises how brands interact with customers. It utilises artificial intelligence to provide tailored recommendations, virtual try-on experiences, and data-driven insights. By analysing a range of data sources, from social media trends to customer feedback, Gen AI enhances customer satisfaction, fosters brand loyalty, and caters to eco-conscious preferences.
— Transparency and ethical AI. As AI plays an increasingly integral role in the beauty industry, brands prioritise transparency. They disclose data sources, adhere to data protection and privacy regulations, and actively mitigate biases, ensuring ethical AI practices that build consumer trust.
— Embracing Eco-Friendly Practices. Sustainability emerges as a top priority for the beauty industry in 2024. AI plays a pivotal role in optimising sustainability practices, from responsible ingredient sourcing to eco-friendly packaging and waste reduction. Ethical AI governance ensures that these practices align with environmental goals.
— Empowering brands with zero- and first-party data insights. Data-driven insights empower beauty brands and retailers to create comprehensive customer profiles enriched with invaluable insights. These insights drive precise product recommendations and targeted marketing campaigns while deepening the understanding of skin type preferences.
Can you share any good examples here?
— There are several fascinating companies that are truly worth exploring, Vasilkova explains. She continues:
— First out is Beautygloo. What caught my attention is its cosmetics fridge, which does wonders for prolonging the lifespan of beauty products while reducing waste. What sets it apart is its ability to optimise preservation temperatures and humidity levels, effectively extending the shelf life of beauty products and fragrances. What’s more, their commitment to reducing product waste perfectly aligns with the industry’s growing sustainability objectives. It’s a step towards a more eco-conscious beauty routine that resonates with me.
— AI companies such as Midjourney and DALL-E leverage algorithms to create visual designs and images, enabling brands to quickly explore potential directions for packaging design. Finnish company CosmeEhics provides a tool for European consumers who have concerns about the ingredients in their toothpaste, shampoo, face cream, or deodorant. And Yuty, the UK-based D2C company, is helping consumers find the right beauty products providing options from ethically sourced brands.
What are your clients and potential clients curious of in terms of trends?
— One aspect that’s truly captured their imagination is how Gen AI leverages customer data to craft visuals and content that deeply resonate with each individual. It’s all about creating a meaningful connection, an experience that goes far beyond the usual shopping routine. They’re also curious about real-world use cases and success stories, wanting to understand how Gen AI has benefited businesses similar to theirs. Additionally, discussions often revolve around the scalability of our solutions and whether they can adapt to businesses of varying sizes. Clients want to know if Gen AI can be tailored to meet the needs of both small enterprises and larger corporations, Vasilkova explains. She continues:
— Enhancing brand identity is also a hot topic, and our customers are driving this conversation. We’re on a mission to ensure that our technology seamlessly blends with each brand’s unique style. It’s about helping our clients carve out their own niche in the market and stand out in a way that’s authentic and memorable.
— Innovation is a big deal for our clients too. They’re always on the lookout for fresh ideas and ways to stay ahead. The exciting part is that our solutions are designed to seamlessly integrate into their existing processes, making it easy to embrace innovation without disrupting their operations.
— The topic of ongoing support and updates is frequently raised. Clients want to know about our commitment to continuous improvement, including the introduction of new features and capabilities, and how we plan to assist them as their businesses grow and evolve.
— Sustainability is another crucial focus for us. We’re committed to making our platform eco-friendly and responsible. For us, it’s not just about business; it’s about making a positive impact on the environment and contributing to a more sustainable future.
— And, of course, data security and privacy are non-negotiable for us. We understand the importance of trust, and that’s why we’ve implemented strong safeguards to protect customer data. Ensuring the security and privacy of our clients’ information is a top priority.
How can AI can be used in daily operations for a beauty venture? How is it and can become the most relevant?
— AI can play a significant role, making it more efficient, customer-centric, and competitive. There are a bunch of examples of how AI can be leveraged and become highly relevant:
— AI algorithms can analyse customer data, including purchase history and preferences, to provide personalised product recommendations. This enhances the customer’s shopping experience by suggesting makeup, skincare, or beauty products that are tailored to their individual needs and style.
— Virtual try-on solutions powered by AI enable customers to visualise how different makeup products and looks would appear on their own faces in real-time.
— Beauty tech can optimise inventory management by analysing customer insights, predicting demand, and ensuring that the right products are in stock at the right time. This reduces overstocking and understocking issues and maximises sales.
— It’s offering personalised skincare guidance and enhancing the overall customer experience. Users can regularly upload photos of their skin, and the AI can detect changes or improvements over time. It can also alert users to potential issues, encouraging proactive skincare measures. It can send reminders for when to apply specific products, ensuring consistent and effective skincare practices. Beauty tech platforms can offer educational content, such as articles, videos, and tutorials, to help users better understand their skin and the science behind skincare. This empowers consumers to make informed choices and develop healthier habits.
— Beauty tech can analyse customer behaviour and preferences to optimise marketing campaigns. It can determine the most effective channels, timing, and content for advertising, resulting in higher engagement and conversion rates. They can send targeted promotions and product recommendations based on a user’s skincare journey and preferences.
— Beauty tech can facilitate user communities where individuals can share their skincare experiences, tips, and progress. Social engagement can enhance the overall user experience and create a sense of belonging. Beauty tech can also enhance supply chain operations by optimising routes for product delivery, tracking shipments in real-time, and predicting potential disruptions. This ensures timely product availability and reduces logistics costs.
And a future perspective, what technologies are emerging here?
— Looking ahead to the future, it’s truly an exciting time for the beauty industry with technology at its forefront. When we envision the beauty tech landscape for 2025, several emerging technologies and trends are poised to shape the industry:
— In the coming years, AI-driven virtual beauty advisors will become remarkably sophisticated. They will offer real-time advice and consultations, going beyond basic recommendations. These virtual advisors will understand and respond to customer queries and preferences in a highly personalised manner, almost like having a beauty expert right in your pocket.
— Beauty tech will continue its evolution, incorporating advanced sensors and AI algorithms. The goal is to monitor skin health more comprehensively. These systems will be capable of detecting early signs of skin conditions and providing preventive guidance. It’s about proactive skincare that goes beyond cosmetics to ensure long-term skin wellness.
— AI’s role in makeup artistry will expand significantly. We can expect AI to offer detailed tutorials, predict makeup trends, and provide personalised makeup suggestions based on individual facial features and fashion preferences.
— One intriguing development will be the integration of emotional analytics into beauty tech. Imagine technology that understands how skincare products and routines impact users’ emotional well-being. This data will enable personalised recommendations not only for physical beauty but also for emotional and mental health benefits. It’s beauty that nourishes both body and soul.
— Voice-activated beauty assistants, powered by Gen AI, are set to become a common feature. These assistants will be akin to virtual home assistants, allowing users to access skincare and makeup tips effortlessly through voice commands. It’s all about making beauty advice and expertise accessible in a natural and convenient way.
— These emerging technologies are poised to redefine how we approach beauty, skincare, and self-care, making it more personalised, accessible, and emotionally enriching.
What else is your mind now?
— From my perspective, brands and retailers are on the brink of a transformative shift in their approach to the customer journey. This evolution transcends the traditional model of product sales, focusing on educating and guiding customers in their skincare, haircare, and makeup routines. Brands aspire to become central hubs, departing from conventional philosophies and offering a comprehensive beauty experience throughout the customer journey, says Vasilkova, continuing,
— At the heart of this revolution is the science of delivering precise product recommendations, meticulously curated through data-driven insights. Beyond product recommendations, it’s about comprehending customer behaviour – how they browse, when they shop, and why they make certain choices. The objective is to create a 720-degree understanding of the customer journey, covering every aspect from initial browsing to final purchase.
— Simultaneously, retailers are taking a proactive approach, directing customers toward products aligned with their unique tastes and preferences. This transformation goes beyond enhancing the shopping experience; it involves optimising operational efficiency. Retailers are streamlining various aspects, from inventory management to crafting hyper-personalised marketing strategies. Loyalty programs are evolving into finely-tuned mechanisms that reward customers based on their actual preferences and behaviours.