Technology is rapidly changing the beauty and fashion industries. These changes are driven in part by new technological advances but also by higher customer expectations.
Today, consumers expect instant gratification and personalization in line with what online giants like Amazon and Netflix are providing.
Now the beauty and fashion industries are responding in kind.
The size of the beauty industry measured by revenue is currently $47.7 billion, while the global apparel market measured by revenue is valued at $1.5 trillion.
With the integration of new technology, both industries are poised to see massive growth. Here are five technologies that are already changing them:
1. AI personalization
Today, artificial intelligence (AI) algorithms can be used to help segment customers and match them with the products they’re most likely to buy.
This is a win for businesses and customers: Businesses can better target consumers, and customers get to see beauty and fashion products tailored to their style and tastes.
Beauty and fashion are becoming more personalized than ever before.
2. Virtual try-ons
New augmented reality (AR) and virtual reality (VR) apps allow people to try on different beauty products and clothes before they buy.
For example, you could use your smartphone’s camera to see how a certain eyeliner would look on your eyes. The app overlays a digital representation of the product onto your face in real time.
The same goes for clothing. You can use smartphone apps as a virtual dressing room to try on a sweater or a hat you like.
This way, you don’t have to drive to the store to try things on. You can do it from the comfort of your home.
It’s not a foolproof method for determining compatibility, but it helps you narrow down your choices.
3. Online filters
Similar to virtual try-ons, online filters allow you to post photos or videos of yourself while wearing virtual makeup or clothes.
For example, you can post photos of yourself with virtual mascara or a virtual dress on social media apps like Snapchat or Instagram. A lot of times, it’s just for fun—a way to switch things up.
But online filters can also help you look good for Zoom meetings without having to actually get up to do your makeup routine or put on something nice. In the age of remote work, this can be a lifesaver when you’re running late or not feeling motivated.
4. Smart skincare tools
Some beauty and health companies have developed smart skincare apps that can help you choose the best skincare regimen based on your skin tone, skin type, and other physical features.
Here’s how it works: You log in to the app every morning and take a picture of yourself, it detects your pores and any wrinkles, acne, and other blemishes, and then it gives you an assessment along with a step-by-step recommendation for your skincare routine.
Some smart skincare tools even have voice recognition features so you can talk directly to your phone and get immediate answers to specific skincare questions.
5. Robotic manufacturing
Lastly, modern robotics can sew and cut fabric according to custom designs at unprecedented speeds and volumes. Apparel companies, equipped with advanced tools like digitizing software, can now go from an idea to a finished product in no time, helping them keep up with (and sometimes pioneer) the latest trends and fashions.
Robotics has also advanced jewelry production. For example, diamond rings no longer need to be mined out of the earth. Lab created diamonds can be produced much faster for a fraction of the cost. Plus, they are far more sustainabale, ethical, scalable, and environmentally-friendly than natural diamonds.
As robot technology continues to improve, we’ll see beauty and fashion trends evolve at an ever-increasing rate.
Adding it all up
Across the board, technology is giving the beauty and fashion industries a makeover.
Some beauty and fashion companies will continue to partner with technology providers while others will start to develop their own technology solutions. Either way, it’s an exciting time to be in these industries.
Founder Dinis Guarda
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