The Peter Louis
When we talk about the current trend in the market then the value of the industry is estimated at around $532 billion and growing with a fast pace. So what happens in 20th century which resulted this industry growing so fast? Like all other field social media plays a vital role to change the thought and trying the new product. As a lucrative sector many of the retailer launching their brands which are tapping the market more aggressively and efficiently.
When we talk about the current trend in the market then the value of the industry is estimated at around $532 billion and growing with a fast pace. As a lucrative sector many of the retailer launching their brands which are tapping the market more aggressively and efficiently.
Go Green: This is the current trend which is followed by the big brands now days. When we search about the historical presence then we had makeable traces about 7000 years ago in Egypt and Greece. Although 7000 years back, the chemical and other artificial color is not used for cosmetic and right now most of the big brand are using chemical which in long run harm the skin. Although now the paradigm is shifting and there are also some brands which are using some of the natural ingredients in their products.
Even the alternatives are also available for the products which are also a part of the cosmetic industry. This is because most of the customers are demanding the toxins free product. Which result in the change in the research and development of the product which not also increase the consumption but also the skin care.
Independent Brands -
The shift in market trends has created an opportunity for independent cosmetics businesses to apply creative solutions to the emerging customer demands. Many consumers are displaying a preference for smaller brands over larger ones, especially those that demonstrate environmentally friendly and/or health-conscious practices as well as bring unique offers not sold by larger companies.
Transparency in the Operations -
Another reason that helps to increase the growth of the cosmetic industry is the transparency. Let’s understand it with an example like Everlane, which came into the lime light after updating their transparency policy like the quality of the ingredients used by them and the true cost of manufacturing of the product.
Artificial Intelligence in cosmetic industry -
Now even the AI also approaches the cosmetic and beauty industry. Some of the brandsbring together medical practitioners with app developers to provide a subscription-based service for skin advice. Some of the software like Curology provide a customized online acne care solution using machine learning and AI.
Another AI Based facial device is LUNA fofo FOREO, a Swedish beauty tech brand, has come up with a device named LUNA fofo. It is an aesthetically pleasing, AI-based cleansing device with advanced embedded sensors that analyze a user’s skin and generates customized spa massage routines for its users. The device is associated with the FOREO foryou app, which unlocks all the key features of the device and saves user data. As per the skin analysis, the app generates the best possible facial cleansing routines, with custom intensity and duration. The AI and machine learning supports the algorithm of LUNA fofo, which is constantly updated to cater to its customers’ needs.
Digital Transformation -
The increasing use of digital platform of cosmetics manufacturing and distribution is transforming the industry into a much more interactive space. “Smart” solutions to changing consumer personal care product demands are providing end users with a real-time digital experience that transcends the limitations of traditional channels. More importantly, personal data captured through new digital touchpoints creates the opportunity to optimize future product offers and production lifecycles.
These are the main trends that help in improving the product and consumptions of the product. We can conclude that we are moving back in cosmetic but in a positive way. For more related updates stick to the blo