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IoT And Beauty Tech Aim To Gain Tremendous Market Share In 2021

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If you want to cover more space in the fashion market today, you need to understand that consumer buying behaviour is evolving rapidly. To be clear, this change challenges expensive brands to recreate themselves and stay relevant in the market.

Since the last decade, influencer marketing has been the marketing strategy for fashion brands. Moreover, with the proliferation and increasing trust in smartphones and other smart devices, it is only a matter of time before brands take advantage of this change to get the attention of consumers and bring them to the point of purchase.

Let me clarify. I have no doubt that influencer marketing is very effective. In fact, influencer marketing statistics reveal that 89% of marketers are proud that it is, in fact, influencer marketing that has generated the highest return on investment compared to any other marketing strategy.

Not surprisingly, expensive brands like Santeva Beauty & Health use influencer marketing to promote integration and reach more customers. For example, actress and reality TV star Mehgan James, known for reality shows such as Bad Girls and Marriage Bootcamp, was one of the influential pushers in the Santa Beauty and Health brand recently. Through the use of influencer marketing, they have increased their brand awareness, resulting in overall positive sales growth.

In Santa’s favour

The answer this year is the highly publicized independent German brand Rosental beauty, known for its jewelry products courtesy of seeing a staggering 8x growth by optimizing Direct Consumer Experience (DTC) with its popularity among influencers, artists and even fashion models.

The whole journey. Is important. to the long-term success of a brand and we take every step of the way to give the user the feel and impact of the lifestyle they deserve. ”

However, despite the success attributed to influencer marketing, technology suggests a new alternative as we enter the third decade of the 21st century. In other words, it is a type of marketing that provides a more personalized approach. Let’s face it, the personal approach is about these times.

Fake images

So think of a technology where your foundation adjusts its tone to perfectly match your complexion. No samples needed. No failed purchases. Not leaving Sephora with an arm full of makeup to try at home. Now, this is how beauty technology takes luxury brand marketing to the next level. And to my point, global brands like L’Oréal, Shiseido, and Estée Lauder are investing heavily in makeup technology as we move into 2021. Makeup technology involves modern technologies such as artificial intelligence (AI), Augmented Reality (AR) and the Internet of Things (IoT) to enable expensive brands to offer personalized experiences of their products.

More specifically, this technology can show your face in different ways. Take, for example, virtual “trial” apps, such as Sephora’s Virtual Artist. Apps like Virtual Artist use AR to help clients test what makeup will look like through digital overlays.

The AFP by Getty Images

Occasionally, makeup technology appears in the form of smart devices such as Perso de L’Oréal. Perso scans your face and activates the device to create the perfect shade for your skin. Another good example is HiMirror, which scans your face for blemishes and gives you personalized product advice and recommendations based on your skin analysis. This type of personalized relationship is unlike anything an influencer can provide through an influencer marketing campaign.

Makeup technology connects customers to the first products through their smartphones or smart devices rather than risking the products they see in their favourite influencers. And with the increasing use of smartphones and video content, makeup technology can quickly solidify its presence in everyone’s hands. Also, more and more luxury brands are now creating video content that can promote their brands to more people. A simple guide for corporate video maker simplifies the whole process. In this way, expensive brands can literally expand to the extent that there are devices that can be used to experience it and we will immediately learn new techniques.

Finance beauty technology to reach customers:

This sophisticated type of AI-infuse marketing may not be an easy task without the proper funds to back it up. Making AI and AR-powered smart devices or beauty cosmetics requires technical skills to create something that can personalize and market brands on the scale. You need to be open to using the different types of financing available. For marketing as futuristic as beauty tech, it makes sense to also try futuristic types of financing.

Decentralized financing (Defi) is worth considering as an alternative resource that luxury brands can use to invest in makeup technology. In fact, due to the pandemic of Covid-19, many people have been forced to invest in Bitcoin and other cryptocurrencies, which has proven to be a good move. I have been a direct witness here in the fashion business. Furthermore, the Bitcoin hit was a record high of $ 20,000 recently, beating the value of gold itself. Almost overnight, the cryptocurrency generated attention as it made investors smile. As such, companies like sigma have become a place for many people when it comes to decentralized financing (Defi). Its goal is to revolutionize the Defi ecosystem by offering practical solutions to the world of open finance. And its mandate extends to all aspects of the Defi ecosystem, including stablecoin, protection trading, wallet services, and cross-chain lending.

What this means for beauty brands:

If you are a beauty brand, one of the biggest takeaways from the beauty tech boom is the power of personalization. It is something that attracts a product because it is used by a celebrity, and it is different when your desire to use a makeup product meets your needs. As global brands like Sephora and L’Oréal began to use beauty technology in their product line, it is safe to assume that more brands will follow in their footsteps.

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