The global beauty industry is undergoing a rigorous transformation, both in response to the crisis but also challenging outdated norms and embracing technology. The 500 billion dollar industry, which comprises of fragrance, skincare, personal care and colour cosmetics, has been forced to adapt to new consumer values and evolving expectations. Brands willing to listen can take advantage of the ample data available, with companies like Perfect Corp sharing valuable insights into beauty preferences and recognising trends.
In its annual Beauty by Numbers report, Perfect Corp highlights the digital transformation taking place across the industry, where consumers are turning to AI and AR-powered digital tools and virtual try-on experiences more than ever before. This year, consumers continued utilise digital experiences for beauty advice and product inspiration, with billions of virtual product try-ons observed across its YouCam apps community.
Demand for Personalized Skincare
Personalized consumer shopping experiences and tailored product recommendations have become essential across beauty shopping, as consumers seek out specific recommendations customized to their unique needs. This was evidenced by YouCam’s personalized Skin Score Tool being used more than 40 million times this year.
Eyes on the Rise
For the second year in a row, eye makeup was the most tried-on product category with over 3.7 billion virtual try-ons.
Lip colour virtual try-ons are on also on the rise after a decline in lipstick throughout 2020 as consumers wore face masks and opted for low maintenance beauty routines during the pandemic. This year, lip color try-ons climbed to more than 2.5 billion in YouCam apps. Furthermore, consumer data analytics indicate that lip gloss and lip colors with high shine finishes have been gaining in popularity are popular choices as we move into 2022.
AI + AR Tools to Increase Purchase Confidence
“As consumer trends and behaviours continue to evolve, AI and AR technologies are proving essential for brands to provide personalized beauty shopping experiences that help consumers make more confident purchase decisions,” says Perfect Corp. Founder and CEO, Alice Chang, “We are excited to share this year’s “Beauty by Numbers” consumer data report, leveraging big data from the YouCam apps community to identify key consumer insights and learnings that can help beauty brands adapt their strategies for a successful year in 2022.”Perfect Corp. is a leading AI and AR beauty and fashion tech solutions provider, dedicated to transforming the consumer shopping experience through innovative digital technologies for businesses and consumers. On the consumer side, its collection of YouCam apps, including YouCam Makeup and YouCam Perfect have been downloaded over 950 million times and provide a platform for individuals to virtually try-on products, looks, and styles conveniently from their smart device.