Ultimate Guide to Beauty Tech in 2024

06 May.,2024

 

Ultimate Guide to Beauty Tech in 2024

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Introduction to Beauty Technology

The beauty industry began its digital transformation in the late 1990s. For $40-50, anyone could buy the IStyle Personal Makeover from Sierra Home or the Virtual Makeover from Cosmopolitan Magazine to experiment with hairstyles and makeup via boxed computer programs. Beauty tech brands have long used big data in R&D to study customer behavior patterns to identify their needs, create products in demand, and build an effective marketing strategy.

 

 

Today, beauty technology encompasses much more than virtual makeover software and smart analytics. Global cosmetics corporations are investing in artificial intelligence, machine learning, and augmented reality to create products and personalized customer offers to leverage smartphone technology and IoT. True, the pandemic hurt even the most luxurious beauty brands, cutting their sales by up to 75%! But those who were ready to adopt technology and innovation are now shining above others.

Altering Reality — How Beauty Tech Re-imagines the Cosmetics Industry

Nowadays, with augmented reality (AR) and artificial intelligence (AI) taking the center stage, big brands target to adapt these technologies to their needs and invest in them. According to research by Google and Ipsos, 43% of smartphone users expect brands to use AR to promote their products, and 40% have used or would use AR to try on and buy beauty products. Companies that have already implemented this technology are seeing a 90% increase in conversions. 

The beauty technology boom depends on the potential customers' demands and expectations. As smartphones became an integral part of our lives, big beauty brands grabbed this chance and offered consumers personalized services and products to cover their individual needs. 

Another reason for increased involvement in augmented reality and artificial intelligence adoption involves the mushrooming of independent cosmetic companies with values and visions resonating with Generations Z and Alpha. They began to take a significant market share, becoming a threat to global beauty brands. They needed both to conform and divert from old-school to trendy. 

The pursuit of hyper-personalization and individuality has become, if not the ultimate goal, but one of the main objectives. Digital transformation of consumer marketing and adoption of AI technology combined with AR and big data opened a new consumer interaction and communication channel for big brands. In addition to broadcasting their message and promoting through beauty influencers on Instagram and YouTube, companies received direct contact with consumers.

How to Beautytech?

Any cosmetics brand can offer customers a beauty innovation within one touch or click. Beauty tech spares consumers from useless trips to the store for an out-of-stock tester or a consultant who is busy with other buyers.

Web- or phone-based virtual try-ons let customers select the perfect shade of lipstick during a traffic jam and order it in just a few taps. AI technology provides the ability to conduct a deep skin analysis, detect any skin conditions, and recommend personalized services or skincare goods. Beauty tech reinvents the traditional approach to the makeup and skin care products purchasing process.

How Does Beauty Tech Benefit Brands?

The benefits of beauty tech for consumers are obvious. What about businesses?

Personalized Experiences and AR Tech Boost Conversions

Consumers want to be treated as individuals, not email addresses in a marketing database. The brand's customer care and interactions should be infused with hyper-personalization. Why? Because 80% of customers pay more to a brand that treats them as individuals rather than numbers. Offering personalized products in a shopping cart influenced 92% of consumers and led to a purchase. Add to that augmented reality with the ability to try on any makeup, and conversion soars to 93%.

Virtual Try-On and AI Consultant Increase Average Order Value and Basket Size

Every business in the cosmetics industry wants to increase these metrics. Beauty tech allows consumers to give a virtual try to any makeup. Many do it for fun, something they would have never done it in a physical store, and admit preferring virtual testers to offline ones.

AI technology acting as a personal assistant offers users personalized products, complete looks, or skin care items they might like to try based on their preferences, skin concerns, and other personal data. This helps brands upsell and increase their revenue.

Fewer Refunds and Higher Consumer Satisfaction

Consumers return about 30% of items purchased online. In the cosmetics industry, this figure reaches 22%. Shipping costs hit the company's budget and the gas emissions of the delivery truck harm the environment. 

Virtual try-on solves the problem of choosing the perfect makeup that matches consumers' skin tone or eye color, and AI suggests the product to replace the wrong one. A brand receives a happy buyer with increased loyalty.

Discover and Reach New Audiences

Up to 50% of makeup users had no idea they could try makeup on their own faces virtually. Beauty tech enables creating services and communication channels to reach new age and ethnic groups and genders.

Beauty Tech Top Companies – The Best Players in the Field

Beauty trends go far beyond common makeup promotions. Let's move on to the striking models of beauty tech giants and the ultimate trendsetters in the tech and cosmetics industry.

Beauty Technology Worldwide Leaders 

Banuba

Banuba is an international leader in AR and AI technology with over 30 patents. Its R&D team has been creating groundbreaking beauty tech solutions since 2016. Banuba offers brands Face AR SDK, Video Editor SDK, and Guided Virtual Try-On, capable of digitalizing entire new collections within 48 hours. The GVTO solution includes over 22,000 ready-to-use uploaded beauty products. It collaborated with brands like Gucci, FaceYoga, Samsung, Looke Cosmetics, and other renowned market players. The company made a move forward and offers its customers AI-powered gesture recognition technology allowing convenient and hygienic no-touch interaction with beauty brands.

Perfect Corp

Perfect Corp is a global beauty technology solutions provider that has been around since 2015. The company has worked with Benefit Cosmetics, Estée Lauder, e.l.f., and other beauty and fashion companies. Its products for enterprises are mainly based on AI and AR tech, reshaping the way brands collaborate with consumers in a virtual environment. The leading segments it covers are makeup, skincare, nail and hair coloring, and fashion accessories. Their solutions are available in the e-commerce web module and YouCam SDK for smartphones.

K-Beauty — Korean Cosmetics Startups to Follow 

The Korean 10-step facial care system has created a buzz in the cosmetics industry, and every beauty influencer has tried it. However, Korean beauty companies have added a drop of innovation and decided to leverage a combination of IoT, AI, AR, and the best ingredients that can be used to create beauty products.

Young&Be created a line of skin care products, the smart device Young&Be Pro, offering homecare beauty, accompanied by an application with AI-powered skin analysis, which replaces a visit to a cosmetologist and selects a personalized treatment for each user.

Lumini is another AI-based home dermatologist from the Korean brand Lululab. The device performs an in-depth analysis to detect any skin problems — wrinkles, acne, clogged pores, or dryness — and offers personalized essential skin care products to fight them.

Swedish Brands — The Best Face Mask and Cleansing Device

It is impossible to ignore FOREO and their LUNA fofo device, equipped with sensors that analyze the user's skin and customize care. Amazingly, this smart cleansing brush can self-learn and make the skin of its users even better, thanks to machine learning algorithms and artificial intelligence. FOREO also has an app that unites all of its appliances and offers personalized guidelines for massage and cleansing.

International Companies Investing in Beauty Tech

L'Oréal is one of the beauty tech leaders who not only actively implement technologies to improve the customer experience but also launch startup accelerators, active buy companies offering solutions they are interested in, and invent smart devices. The French business openly admits that it aims to become an absolute tech beauty leader in the market.

Estée Lauder leverages AR and big data to create ultimate customer experience and engagement. It created Clinique Clinical Reality to help customers pick individual skincare and experimented with WeChat in MAC China Store. Besides, it arranges the annual ELC Hackathon to gather the best minds and create innovative solutions.

Shiseido is not as ambitious in winning the beauty tech leadership title. They see technology as an opportunity to become a leader in personalization. This Japanese company also acquired tech businesses to create their own smart devices in innovation labs.

Beauty Tech Products & Innovations

Science in Beauty Industry

The beauty industry has always been directly linked to scientific research. Today, science is at the forefront of the development of beauty care, makeup, and cosmetic appliances. Covid-19 made people use less makeup and switch to quality skincare instead. Consumers pay more attention to the active ingredients in products, not trusting brands that simply put “cruelty-free” and eco-labels on their products.

Brand R&D centers develop products based on big data analytics that demonstrate the requirements and needs of their target audiences. Product development has switched from mass-produced all-in-one solutions to personalized offerings for limited groups of customers.

Cosmetics — More than Artificial Intelligence

YSL's Rouge Sur Mesure has changed the approach to choosing the perfect lipstick color. The device powered by Perso includes a set of three color cartridges that can generate the ideal shade of lipstick of the desired color for each consumer. To use the device, users need to download an app to help them create the perfect lipstick to match their skin, eyes, hair, or accessories.

Beauty Tech Products

It is difficult to single out a beauty tech product that can be considered the most innovative or technologically advanced. It seems that you can personalize and try any kind of cosmetics. What about perfume?

Ninu stunned everyone at CES 2022. The Slovak company has created a real revolution in the world of fragrances — an AI-powered device featuring reusable cartridges filled with concentrated fragrance oils producing personalized perfumes based on individuals' body chemistry and mood. Over 100 fragrances in one device to control and mix via smartphone.

Beauty tech is definitely the future of the cosmetics and the self-care world. Companies moving at a slow pace and not leveraging innovative technologies risk never getting even a tiny market share. 

5 Things To Consider When Choosing A Private Label ...

The Cosmetic Skin Care Market has been one of the thriving markets globally because it serves as a necessity. Products in this market are meant to be used for the face and body. Cosmetics products intend to be used on the face, hair, and body and create a powerful appearance. On the other hand, skincare consists of products like moisturizers, toners, creams, serums, and so on.

Because of how practical and trendy products are in this market, it was foreseen that between 2021 and 2027, it will have a value of 7.1% CAGR. It would also result in USD 55 070 million in 2020 and USD 89 550 million by the end of 2027. If you are interested in putting a business in this market and are looking for the best manufacturer, TY OEM Cosmetics is for you!

What Is A Private Label Cosmetic Manufacturer?

A private label cosmetic and skincare has the concept of selling ready-made products at an affordable price. It enables start-ups, companies, and brands to create and customize their products without the need to go back to basics. This concept also offers a variety of benefits, especially with high-quality products, quick turnaround, and reasonable pricing.

How Does Private Label Cosmetics Work?

The production of private label cosmetic and skincare products consists of many steps. These general procedures of private labeling are as follows:

  • Consultation and Quotation
  • Product Evaluation
  • Product Formulation
  • Packaging Selection
  • Designs of Labels

The Benefits Of Choosing The Best Private Label Manufacturer

Working with the best private label cosmetic manufacturer when you want to create your brand is the best decision you can make. This process allows you to be hands-on with your business while we handle the rest—from R&D to formulation to packaging design. Private labeling also offers varieties of benefits, such as:

Allows A Bigger Profit

Most of the time, Private labeling allows for more profits because it’s easier and more flexible. The cost of producing private label cosmetic and skincare products is around 40% to 50% less. Businesses that opt for this manufacturing type can earn up to 40% profit margins.

Your Products Can Adapt To Trends

You will work in close contact with your chosen private label cosmetic and skincare manufacturer. That is why you will have an update on their new products and even reach out to them about your ideas. Since they have a flexible structure, your products can be more adaptable to the trends in the market.

Changes And Adjustments Fast

As a business that opted for private label, you will be in close contact with the manufacturer to produce your products. That is why making your product’s adjustments and changes are easier and quicker. TY OEM Cosmetics is one of the best manufacturers that will adapt to your needs and provide you with the best service. We can meet any of your requirements and improve your ideas.

Offer Exclusivity

Private labels can uniquely cater to your business’s products and services needs. You will have your trademark that is like no other in the market. This way, you can control your brand and be an eye-catching seller.

Guaranteed Quality Assurance

One of the benefits when you private label your cosmetic and skin care products is that it goes through strict quality checks. That means it is high quality, approved, and certified. TY OEM Cosmetics has in-house quality control to double-check your products. Our formulations also comply with GMP, European, and North American regulations.

bodesi' are exported all over the world and different industries with quality first. Our belief is to provide our customers with more and better high value-added products. Let's create a better future together.

Proposes A Flexible MOQ

The best benefit of private labels is that it offers a flexible MOQ that can go low—up to 1000 to 3000 pcs. In TY OEM Cosmetics, we offer a low MOQ at an affordable price to help you start your business.

Have A Control Over Your Packaging

The truth is: that it is expensive and hard to produce your packaging from scratch. Worse, you will invest all your time and effort, but you will get poor packaging and design. These problems will not occur when you work with a private label cosmetic manufacturer like TY OEM Cosmetics, which has an art and graphic team. Private labels have hundreds of ready-made packaging that can be customizable based on your brand; you can get your logo, color scheme, and aesthetics.

Allows You To Create Your Own Unique Brand

We get that you can be hesitant to put your trust in a third-party manufacturer. However, they will still create and package your products under your company’s name. That means you have the right and freedom to create your unique brand.

Work With A Team Of Experts

Formulating and researching ingredients for cosmetic and skin care products is not easy, especially if you’re not a dermatologist or chemist. That is why private label manufacturers of skincare and cosmetics have teams of licensed experts and suitable equipment. With this team of experts, you can guarantee to receive high-quality, proper formulation, safe-to-use products.

You Can Be Creative In Formulations

Working with private label cosmetic manufacturers can still allow you to control the ingredients and formulations of your products. Customizing your formulations by changing components and measurements can significantly impact your unique brand. It is the area of expertise of many scientists, dermatologists, and skincare experts.

More Control Over Your Product

Expanding and controlling your products will be easier when you build a strong tie with your skincare and cosmetic manufacturers. You can be open to increasing your lines and even be confident adjusting your products.

5 Things You Need To Consider When Choosing A Private Label Cosmetic Manufacturer

Private label cosmetic manufacturing has grown in popularity because you can create products with little effort and investment. This concept might sound easy; however, the process involved is not. The first step is to choose the best manufacturer if you want a private label. The question is, how? You can refer to our list below: 

What Are Their Experience And Expertise?

One of the first details you should ask or look into about your private label cosmetic manufacturer is how experienced they are and their area of expertise. These two determine the success of your products and brand. So it would help to look into the manufacturer’s history, the brands they have worked with, and even their best-sellers.

Are Their Ingredients Sustainable And Safe?

Cosmetic and skincare products are applied topically and directly on the skin. For this reason, a person’s skin might get irritated or damaged. The vital factor to not let this risk happen is to choose ingredients that are safe and approved by the FDA. So the skincare and cosmetic manufacturers you choose should comply with various certifications, especially if you are gearing towards European and North American markets.

What Is The Quality Of Their Source And Raw Material?

The source and raw materials can have a significant impact on the performance of your products. When you do your research for the manufacturer’s info, look into their partnered raw materials provider. They should partner with only the best and also licensed.

Do They Offer Products For Different Applications?

We have said how important it is for private label manufacturers to have a wide range of products. You must pay attention to what they offer. For instance, both face creams and lotions have different ingredients and use. The formulation and ingredients of face creams cannot be the same as lotion since both products have other services and applications.

What Are Their Packaging And Formulation Options?

The best skin care and cosmetic manufacturers should offer more services. It would be best to look into the product packaging and formulation options. Check if they are creative and experts in this area and if they allow you to customize your options.

The Guide On Choosing Private Label Manufacturer

Choosing the best private label manufacturer for skincare and cosmetics is not as easy as it appears. Some of these manufacturers might be a fraud and will provide poor-quality products. That is why we have noted some of the checklists you need to spot in the search for your best private label manufacturer.

Years Of Experience

How long has the private label manufacturer been offering their services? What are their achievements over the years? Does their company continuously improve its product and services? Years of experience are vital to know if your chosen private label cosmetic and skin care manufacturer can exceed your expectations. Such questions will lead you to the right one.

Customer Support

Being the best manufacturer should not mean that they will only provide the best products and services. Instead, they can also cater to the needs of their customers and know how to listen. That is why, in TY OEM Cosmetics, our customers can reach us in many ways, such as by phone, email, or direct to our website. We also have a customer support team for a faster and better response.

Turnaround Time On Orders

Working with a private label manufacturer is best if you need a product stock a month prior. Most OEM ODM manufacturers can mass produce products in 2 weeks. However, this would also be a case-to-case basis, so ask your chosen manufacturer how quickly they can fulfill your orders.

Product Availability

What is the selection of products the company provides? Do they have a broad range of products from lips, face, or hair? Or perhaps it can cater to limited product demands? An excellent manufacturer like TY OEM Cosmetics has a wide selection of products that can help support your future growth. These manufacturers can expand your line and brand on a vast and fast scale.

Company Sustainability

A private label cosmetic or skin care manufacturer should not always focus on providing products or services. Instead, their company should also be mindful of their goal, environment role, and how they are considerate to their workers and customers. For these reasons, you will know they will aid your needs and offer you the best experience possible.

Different Ways To Find The Private Label Manufacturers In China

In general, finding a private label manufacturer is now easy and fast. You have all the means to work with the best of the best in the comfort of your home. The following are some of the common ways.

Manufacturers’ Website On Google

Google has everything you can find. You can input keywords, such as “private label cosmetic manufacturers in China” or “TY OEM Cosmetics.” Numerous results will pop out in less than seconds, redirecting you to a website.

Local Trade Shows

There are numerous trade shows that you can go to if you want to explore a wide range of cosmetic and skincare manufacturers. You can check the top trade shows, such as Canton Fair, the China International Beauty Expo, Yiwu Trade Fair, and more.

B2B Platforms

B2B Platforms such as Alibaba, Made in China, or Global Sources have hundreds and thousands of manufacturers available. You can search or pick your desired ones based on their products and company details.

If you want to order via these platforms, you can check out TY OEM Cosmetics!

Why Choose TY OEM Cosmetics As Private Label Cosmetic And Skincare Manufacturer?

TY OEM Cosmetics is one of the best private label cosmetic and skincare manufacturers. We have been in this industry for more than 13 years, so our experience and reputation are at their peak. Throughout the years, our growth has continuously improved and expanded. That is why we strengthen our production, expand our product lines, and optimize our services.

When you work with us, we assure you that you will get the best products and be satisfied. From day 1, we will be with you in building your brand and thriving in your market. Want to experience how we are as a company? Our experts are always ready to hear from you!

Since we might update our article now and then, feel free to check out the article link:https://www.tyoemcosmetic.com/5-things-to-consider-when-choosing-a-private-label-cosmetic-manufacturer/

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