The global cosmetics market will be worth $806 billion by 2023, according to Orbis Research.
In Mexico, the sector has an estimated value of 154 million pesos, according to CANIPEC.
Cosmetics brands invest millions of dollars in the implementation of Artificial Intelligence.
The cosmetics industry has changed over time and has had to adapt to certain technologies to offer new products that monopolize sales and attract new customers. This is often influenced by global trade, income growth, changes in lifestyles and other factors such as climate change; as an answer to this, cosmetics brands invest millions of dollars in innovation and development, such as the implementation of Artificial Intelligence (AI).
In this regard, Orbis Research mentioned in a report that the global market for cosmetic products will be worth 806 billion dollars by 2023, while in Mexico, the sector has an estimated value of 154 million pesos, according to data from the Chamber of the Cosmetic Products Industry (CANIPEC).
Artificial Intelligence as a tool
Artificial Intelligence (AI) is a human behavior carried out by a machine or system, which allows brands to personalize a product, offering consumers in the cosmetic industry routines and options based on knowledge.
Here are some examples of the application of AI and machine learning that are being applied in the cosmetics industry:
- personalized recommendation
The companies have applied new customization models for your products using machine learning applicationswhich work through the behavior of consumers to offer you recommendations that are tailored to you, as if it were a digital employee. On the other hand, they use augmented reality so that customers virtually ‘try on’ items before buying them.
- Use of test applications
With the increase in purchases on-line, brands have implemented augmented reality to improve the experience of their customers. The technology they employ such as image recognition and facial tracking allows customers to ‘try on’ a certain product from their smartphones or at store counters.
Some devices have been created that scan the skin and accurately apply amounts of makeup to hide age spots and other blemishes.. The camera that these devices have takes 200 frames per second, then its microprocessor analyzes the scan, then the micro-printer applies the base to the client’s skin, taking into account the light and dark areas. The agency Seymour-Powell introduced this project.
AI Implementation
In the case of AVON, in collaboration with Perfect Corp, they also explored AI and augmented reality. In this sense, the company will use facial analysis to offer a more personalized experience with consumersthis will allow detecting the client’s facial features so that the intelligent technology recommends products according to their needs, it will also recommend makeup styles and hair tones to highlight the beauty of each user.
Within the framework of the National Marketing Congress 2022, organized by Merca2.0, one of the presentations analyzed the future of innovation in marketing in the beauty industry and was attended by Araceli Becerrilcurrent Director of Communications, Sustainability and Business Affairs The realwho counted the experience of the brand when implementing AI to meet the needs of users when buying makeup and that many times they are not sure how a certain product will look on them. That is why they applied AI and augmented reality to create a database with 22,500 skin tones. With this they improve the buying experience of potential customers.
On the other hand, Sofia IbarraSenior Product Manager Lancomeexplained that as of the pandemic, opportunities were raised to innovate since they had all their stores closed, so created the first pop up store virtual skincare in Latin America.
New technologies are being implemented in various areas and the cosmetic industry has not been left behind to implement them to improve interaction with their customers and provide them with a better experience.
Now read:
TikTok, marketing tool for the cosmetics industry?
Launch: Self-esteem and sustainability in the cosmetics industry
They create influencer through artificial intelligence and this is their first post