The Impact of the pandemic indeed took the consideration of the development of digital beauty brands to grow at lightning speed. Likewise, the possibility of individualization and customization in the beauty sector is shaping the future of beauty to the next level.
Covid's effect on the majority of business has been dreadful. However, most beauty brands have developed to turn into a more than $160 billion industry, with projections to develop 5.5% throughout the next few years.
As the pandemic has likely sprung the development curve and is constraining the area to reevaluate everything from items to promoting to distribution channels.
Across the world, Asia-Pacific area nations, similar to China, India, and Vietnam, have extensive development chances for the market players, essentially because of the awareness among millennials and activeness of Gen Z. Also, an increase in per capita income raised the consumer's buying capacity by upgrading the standard of living in most developing countries.
Pandemics Stimulated Experts Io Innovate Beauty Products
Beauty brands have provided customers with touchpoints, analyzing skin deeply with AI technology and digital devices to procure skin nourishment with effortless procedures. Apparently, such strategies have remained successful in engaging customers to track down the exact items they are looking for.
The beauty sector also penetrated the market by leveraging a competitive advantage over expensive skincare treatments by granting the best skincare tools to cure skin issues at home. Radiofrequency skin tightening at home seemed magical to the people as no prior appointments of experts were required. Also, it saves a massive amount as surgical skin treatments are used to carry a heavy cost. Common skin problems now don't need heavy treatments; instead, they can be cured at home with skincare tools. Contacting dermatologists is suggested for safety measures.
However, as digitalization has become omnipresent for us, our connections with technological innovation are now changing quickly. The digital world of beauty is using modern technology with optimal resources and redesigning the future of beauty.
Illusionary World Of Beauty
Suppose we struggled to choose the right shade of foundation or lipstick or any cosmetic product when we look back in time. A big thanks to Artificial Intelligence for easing down the efforts of selecting the right product according to our skin type. Gone are those days when we asked a salesperson for help in settling on the decision to buy the perfect product; instead, we're presently entrusting modern gadgets to address our issues.
This empowers brands and retailers with new focuses to invest in digital beauty automated machines.
Virtual And Augmented Reality
Virtual' try on' mobile apps has improved customer buying experience in situations of lockdown. Traditional methods of patch tests are now becoming obsolete as they consume too much time and energy. In addition, makeup try-on tools using AR are benefiting the beauty retailers to hold their customers in adverse situations of pandemics.
Growth Of Digital Beauty Device Market
The widest and the only medium for connecting individuals at the global level is the internet.
It's convenient for buyers to compare and decide which product or brand is best suitable for them as mobile phones have become the most used digital gadget. The visual content via the internet quickly reaches the target audience.
Considering the buyer's joint interest in both investigating new items and recharging the ones they effectively own and love, beauty brands develop these two customer modes—disclosure and renewal— that are effective drivers of online business across FMCG.
Ecommerce business setups are a lot simpler to set up than a retail business. Covid crisis forced beauty retailers to shift to the ecommerce business for survival. Fortunately, beauty businesses have earned staggering profits by digital transformation. Online sales may not precisely offset the in-store sales at present, but in the next ten years, the digital world of beauty must reach the top-notch position among every sector of the global economy.
Indeed, before the pandemic, beauty, cosmetics, and personal care buyers were transferring their priority from physical stores to internet retail stores. A survey revealed that almost one out of three dollars spent on beauty items in the U.S. today was spent on the e-commerce platform. It is forecasted to rise to 48% in the U.S until 2023.
Power Of Visual Content
Before the Corona epidemic hit the globe, the digital mediums have collectively created addictive practices of overusing social media. Nevertheless, the circumstance of Covid resulted in more engagement on Facebook, Instagram, and YouTube, leading amongst the other social media platforms. Covid guidelines restricted and limited physical human contact; thereby, the majority of brands started connecting with customers via visual content on social media communities. People are now keenly interested in knowing the background of the brand before using its product or service.
We likewise realize that online media is more significant than any time in recent memory. Beauty influencers are creatively setting up online brand value by showcasing the product usage tutorials and briefing the viewers with well-researched information behind the product. Whether the brand is involved in clean beauty or not is the main concern of consumers today.
Consumers are surging towards sustainable, ethical, and clean beauty notions for contributing towards the wellness of the environment. Many beauty brands were recognized for performing cruel activities like testing their products on different animals and hurting numerous innocent creatures. Active social media campaigns for protecting and visual content forced the beauty brands to stop producing the ingredients which are harmful to any living being.
Gen Z Role In Uplifting Digital Beauty
Gen Z is the designer of the immediate opportunities for beauty brands. Youths possess tech-savvy traits and prefer at-home services in the digital era. Gen Z probably spends $368 annually for skincare and beauty purposes. Beauty brands must know the quest of Gen Z to expand their business.
The pandemic has undoubtedly transformed the beauty sector with the essence of digital beauty. It has pushed the market, Quicker than we could've imagined. In any case, we can now understand that regardless of what changes come in our way, we can rely on the internet and technology to bring every aspect of beauty to our doorsteps.