Are you a skincare enthusiast curious to know more about the current state of the industry? With an abundance of skincare hauls and beauty influencers showing us how to get the perfect dewy skin, many of us have found ourselves crawling the sites and hopping onto TikTok to find the perfect products for our skin.
Skincare in 2022 was the second-largest branch of the beauty industry contributing to 23% of its revenue. But how much do Brits love their skin and just how much do you think they’re willing to pay to take care of it?
Since the 2020 pandemic, searches for ‘skincare’ rocketed, as people were spending more time at home, adapting to new habits and scrolling thousands of TikTok beauty hauls on the latest skincare trends. The cosmetics industry statistics revealed the UK skincare market size to be worth £2.17 billion and by 2024 it is expected to reach 24.37 billion, plus 40% of the world’s skincare product launches took place in the UK – the industry truly booming!
With many taking to social media platforms to find the most-hyped beauty products and shopping online for their skincare, brands need to move their offline shops and experiences online. From online foundation matches to AI consultations, skincare brands are going digital faster than ever.
Key Challenge For The Skincare Industry in 2020 and Beyond
The best skincare service inevitably requires the touching of customers’ skin. This process involves feeling for oil levels, dehydration, texture and congestion whilst discussing and listening to the nuances of the customer’s skin concerns and skin history.
However, as Pharmacists, Doctors, Teachers and Beauty Influencers are all venturing into online consultations and classes, are we truly able to overcome the lack of physical contact? The events of 2020 have indicated that this is possible and, in some cases, more successful and efficient.
L’oréal Take On Grocery Stores
Artifical-Intelligence is the talking point of many brands including within the skincare industry, especially due to the need for online skincare consultations. That’s why AI-driven skincare advice is coming to a supermarket near you! Offering expert skincare and personalised consultations in over 100 Sainsburys stores across the UK, without the need for personal contact and expert staff present within the stores.
L’oréal’s AI-driven skincare technology from Modiface will scan customers’ faces, analyse them and share recommended products for their skin type. The AI tool harnesses 20 years of research and a database of more than 15,000 faces to deliver personalised routines based on the users’ skin types. The developing service can help create the future of beauty, which means customers can shop for tailored skincare in the supermarket aisles.
Machine Learning For On-Demand Skincare Forecasting
When it comes to AI technology it can be used in machine learning to understand people’s preferences within the beauty industry. Within skincare brands, it has been used to analyse social media comments, website reviews and purchase data by those who have engaged with skincare services.
This data can then be used to highlight what has historically been popular and provide predictive analytics to prepare retail and staff for upcoming periods. The beauty brand, NARS Cosmetics, uses this to see consumer preferences to help build new beauty products.
Boots Launch AI Skin Analysis Tool
Boots UK and its own-brand skincare range, No7, implemented Revieve’s AI skin analysis tool onto their website to help consumers find the perfect products for their skin. By simply taking a selfie, the AI-driven tool analyses their skin to determine any health and beauty factors affecting it. Once identified and prescribed, consumers can seek recommended products and treatments to tackle problems.
Flaunting Our Skincare Industry Report
What separates the online players when offering us our cult beauty favourites that keep us looking fantastic, and feeling unique? Our Flaunt Digital Skincare Report looks at the critical challenges in porting an offline brand – online; how the significant challenges can be solved and finally some good, bad and ugly examples of their implementations. Take a look at our skincare industry report here.