Generation Z & Millennials growing influence is forecasted to account for a substantial 39% of the UK's total retail spend by 2030, with an anticipated expenditure of £12.6 billion in the beauty and personal care sector by the decade's end. Young people view beauty and personal care rituals as vital aspects of self-care and mental well-being, even amidst the challenges of the cost of living crisis.
TikTok, a platform most popular amongst Gen Z –with over 38% of platform users between 18-25– reports that 61.3% of total platform sales in the UK constituted of personal care items. This is unsurprising as DIY approaches & self-education have become even more popular since the 2019 lockdown, particularly amongst women. Since then, TikTok alongside Youtube have emerged as powerful platforms for inspiration & education. One barrier that these platforms have failed to overcome however, is the consumers need to also be able to see themselves within the brand, the product, or even a service.
In response to evolving consumer preferences, the beauty industry is witnessing a surge in digital innovations aimed at captivating younger audiences and meeting their evolving needs.
Leading the charge are innovative companies like Vytrus, which have introduced interactive educational platforms focusing on skincare ingredients. Meanwhile, renowned professional & luxury makeup brands such as Burberry, Pat McGrath and Charlotte Tilbury are embracing Augmented Reality (AR) solutions, enticing consumers with AR tutorials & virtual try-ons for makeup products.
Let's explore how Beauty by Holition is at the forefront of this digital revolution, offering cutting-edge solutions that blend personalisation with education to empower consumers.
Stephanie Horton, senior director of commerce marketing at Google, lauds the efficacy of Virtual Try-On (VTO) solutions in enhancing consumer engagement with products, further supported by a study on shopping technologies revealing that products featuring 3D/ AR content had a 94% higher conversion rate than those without it.
At Beauty by Holition, we've elevated the VTO experience by integrating with AR tutorials which allows the consumer to understand how, & where, exactly a product can be applied. Leveraging AI face analysis, our AR tutorials guide consumers in creating bespoke looks, applying products tailored to their unique face shapes, and even finding the perfect foundation shade with our state-of-the-art artificial intelligence (AI) shade finder. An AI powered foundation shade finder is yet another digital solution that is capable of educating consumers, with 43% of shoppers already showing preference to this type of shade matching over in-store testing.
Beyond just offering personalised beauty solutions, Beauty by Holition is committed to enriching consumers' knowledge and understanding of skincare, and makeup, and our technology is driving these innovations.
Another noteworthy powerhouse of a solution at Beauty by Holition, is Neo Beauty Studio. Neo Beauty Studio facilitates personalised look creation, AI foundation shade matching, and has the capacity to serve as a hub for educational content. From demystifying skincare to showcasing the versatility of makeup products, Neo Beauty Studio provides tailored beauty tips and insights, ensuring consumers feel empowered and informed.
By Edit Kruk
06.03.24