The last handful of years have been busy for the cosmetics industry. Despite the continually saturated market, the cosmetics industry has always been lucrative. Somehow, the industry has proven resistant to the recession and other macroeconomic events, a phenomenon that Professor Juliet Shor referred to as the “Lipstick Effect.” With high margins and appeal to a broader audience, the beauty industry will continue to grow.
The smart skincare device, Perso, is the brainchild of L’Oreal. The device formulates a personal moisturizer by using your preferences, location, and artificial intelligence. It will be going on sale in 2021 and will be able to customize lipstick and foundation. According to the company’s deputy CEO, the smart device is the next step to an exciting journey making L’Oreal a force in beauty tech.
L’Oreal is not the only company making significant strides in beauty tech. It is also not the first. Beauty tech dates back to 1998, with “virtual makeover software” credited to Cosmopolitan Magazine. The growth in interest is partly due to the significant growth of smartphone technology and opportunities created by leveraging social media.
The company is also a leader in the cosmetics industry, and the introduction of their smart device, Optune, is the best indication of that. The skincare device shares many similarities with Peso. The main aim of Shiseido is to become a leader in personalization. Optune analyzes your face to detect any blemishes using artificial technology.
It creates a custom moisturizer by pairing that data with air pollution data and local weather. Shiseido acquired MATCHCo and Giaran, the two technology companies powering Optune, back in 2017. Optune is available on a monthly subscription of 10,000 yen ($92). The company’s S/Park in Yokohama, Japan, where they designed Optune, is currently open to the public.
The American beauty brand, Estée Lauder, is using WeChat for brand engagement. MAC Shanghai store uses the social media platform to receive influencer recommendations and appointment bookings from customers. You can also pay for their purchases using WeChat.
At the MAC Shanghai store, you can create custom products and do virtual testing. The beauty tech strategy employed by Estée Lauder is new, especially for an American company. Previously, the company partnered with Perfect Corporation for its beauty advisors inside the store. The tech company is behind AR training programs and virtual lipstick testing.
Restoration Robotics, Inc
The demand for hair restoration service is growing in leaps and bounds. Most of the surgeries are in the scalp area, which accounts for about 90% of the hair restoration techniques. The big players in the market are using innovative technologies, such as bioactive treatment, to safeguard against hair loss. Restoration robotics has a system with implantation functionality to improve clinical outcomes.
Some state-of-the-art hair transplant facilities use equipment such as the Laxometer. According to Dr. Mohebi from Parsa Mohebi Hair Restoration, a facility for hair transplants in Los Angeles, the system measures the mobility of your scalp and hastens the healing process.
Proctor and Gamble (P&G)
Procter and Gamble unveiled a gadget that can scan your skin and apply tiny amounts of makeup. This is to conceal blemishes such as burst blood vessels and age spots. The device has a microprocessor that analyzes data from a 200-frame per second internal camera. Well, it can accurately tell the difference between light and dark areas. Then the micro printer produces a foundation, customized for your skin.
The company is due to release the device into the market by the end of 2020 and hopes to reduce the makeup bills of its customers. Towards the same line of thought, Seymour Powell unveiled a printer concept. It allows you to download an image from the internet and use it to apply the same makeup foundation.
No doubt, the beauty industry is one of the most dynamic. The use of beauty tech and other innovative technologies in the industry will continue thriving. Typically, personalized skincare products using artificial technology and handheld devices are currently the trend. The system rates your face before creating a personalized product recommendation. The most prominent players in the market are already leading the way.