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How AI will drive a future-fit beauty industry

by maria

By Alice Chang, CEO at Perfect Corp.

In today’s quickly evolving retail landscape, artificial intelligence is transforming the way businesses operate. For the beauty industry in particular, AI has the ability to improve many aspects of business operations, from product development to production and fulfillment. With virtual try-on technology, AI also has the potential to create personalized and engaging experiences for customers, which helps to drive sales and increase brand loyalty.

The COVID-19 pandemic has further accelerated the need for AI technology across the beauty sector. With store closures globally, brands had to rapidly adjust their strategies to focus on online offerings. In order to create engaging and impactful online shopping touch points, brands invested in AI technology and virtual try-on solutions to reimagine the in-store product try-on experience in a digital setting. This technology helped to engage consumers and drive sales during a time when in-person shopping was not possible.

At Perfect Corp, we firmly believe that AI is set to revolutionise how consumers shop and how brands create effective omni-channel shopping experiences. Below are a few reasons why artificial intelligence is the gateway to a future-fit beauty industry.

AI Virtual Try-On Supports Sustainability Initiatives

Sustainability has been a hot topic in the retail sector for some time now, and it has become increasingly more important for consumers as well. Many brands are looking to find ways to create more sustainable and eco-friendly experiences for consumers both online and in-store. With 46% of British consumers believing that plastic waste is the biggest sustainability challenge facing the beauty industry, brands will need to prioritize these efforts in order to remain competitive. They will need to create shopping environments that align with customer sustainability values.

AI powered virtual try-on technology can play a significant role in supporting a brand and its sustainability initiatives. Traditionally, consumers interested in buying a product would walk into a store, pick up a makeup tester or open the packaging and try the product on their skin. This results in excess product and plastic waste, and is not a sustainable practice.

Today, AI and AR-powered virtual try-on technologies are helping brands create sustainable product testing environments. These solutions are powered by sophisticated advanced AI and AR technologies that allow customers to try on many different product shades digitally, within a matter of seconds. Virtual try-on technology brings the product testing experience to a fully digital format, eliminating product waste and ensuring sustainability in all settings. Brands that adopt this technology will enable their customers to try-on products at their own leisure, without ever having to physically test – and waste – a product. AI and AR virtual try-on is therefore a more sustainable option for eco-conscious consumers and brands alike.

AI Virtual Try-On Drives Customer-First PersonalisationToday, consumers are seeking out brands that can provide custom product recommendations and consultations. Consumers want products and product education tailored to their individual needs, and personalisation has become a key driver of customer engagement and sales.

One of the most impactful ways AI beauty tech can drive personalization is through AI-powered diagnostic solutions. Perfect Corp.’s AI Skin Diagnostic technology provides instant skin analysis and offers customers personalized scores based on 12 key skin health concerns including spots, wrinkles, moisture, redness, oiliness, texture, acne, dark circles and eye bags. This tool can also assess skin pores, radiance and skin firmness. With this in-depth analysis, skincare brands can provide product recommendations hyper-personalized to the customer’s skin concerns and needs.

For makeup brands, Perfect Corp.’s AI Smart Shade Foundation Finder utilizes advanced machine learning technologies and smart detection to identify over 89,000 skin tones, providing customers with their perfect shade match and ensuring inclusive beauty experiences for all. With the use of this technology, shoppers are able to identify the best product regimen for their unique skin type and beauty preferences.

With precise AI technology that generates true-to-life results, customers can try on many products in seconds while receiving a personalized recommendation. As consumers are able to try on many different shades, this technology helps improve product discovery. This often leads to increased conversion, as consumers are more likely to purchase multiple products and shades. Additionally, this technology helps reduce product returns, as consumers are more likely to feel confident that the product they are purchasing is right for their needs.

The beauty industry is undergoing a digital transformation, and the COVID-19 pandemic has accelerated this shift to online shopping. As stores begin to open and beauty consumers re-discover their makeup routines, AI technology will be integral for beauty brands to build strong omni-channel shopping journeys. These technologies can easily be integrated to help to engage customers and drive personalization across multiple touch points, from in-store to online and through social commerce. AI technology is set to have a significant role in the future of beauty, and we firmly believe that brands that want to stay ahead of the curve will need to consider leveraging the opportunities within virtual-try on if they want to be future-fit.

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