The world is changing faster than ever with the help of the covid-19 pandemic. For example, A.I skin tech has become increasingly common with beauty brands in their retail and online spaces.
 
Skin Match Technology recently conducted an online survey that was sent out to beauty brand founders and executives, in order to get a good insight into where they see the beauty industry heading. Some of the beauty founders who took place were from the likes of The Alpha Men, Bears with Benefits, Nui Cosmetics, and beauty retailer, CosBar.
 
Here are the results:
 
93.1% Will invest in A.I Skin Tech for their brand
 
A.I Skin Tech can be defined as a Foundation Shade finder A.I, Skin, and haircare advisor, and an INCI Explainer all of which are products offered by Skin Match Technology. A.I Skin Tech is becoming a staple to brands because 72% of consumers want more information on their products and 57% say that they won’t buy products if there are not consultations. The A.I skin Tech tools mentioned solve all these needs and 80% of customers complete these quizzes in order to find their perfect products.
 
63.3% say it will take longer than we think for the beauty industry to become fully sustainable.
 
Although 27% of the founders say that they see a completely sustainable future for the beauty industry in just a few years, 10% say they never see that happening. We will never know unless we try, and because this is the only earth we have, it is definitely worth the try to make your brand as sustainable as possible. Many consumers are becoming aware of the what, when, and where of their products to try and be more conscious of their environmental footprints.
 
57% say they see a fully diverse future for the beauty industry.
 
36% agree that it will take longer than expected. We can already observe some brands making a difference in diversifying their brands. Although the diversity spectrum is broad, i.e, gender, race, and age diversity, brands must all take the step on the diversity ship.
 
83% agree that the concept of beauty is becoming more relatable and real.
 
Still, 17% say that beauty is still very narrow, and one form of beauty is only accepted. However, this does go hand in hand with diversity.
 
50% of our beauty founders think that the future is with niche brands BUT…
 
50% say that niche brands will never outrun the beauty vets. The rise of niche brands means that consumers are seeking brands who cater to, not only, minorities but also newer, younger brands who are staying relevant to the latest beauty trends like clean beauty, etc.
 
27% agree that retail shopping will never go away.
 
The pandemic has changed many things in retail which showed industries that perhaps the future is fully online. However, that’s not to say that retail will not be around, 69% of beauty founders agree that although retail will not disappear, there will be many changes.
 
Which markets are set to grow the most in the coming future?
 
Order from Most growth to the least:
 

• Clean Beauty
• Male Beauty and skincare
• Supplements
• DIY clinical skincare
• CBD Beauty

• Apps to measure Skin healing progress (Acne/Anti Aging)
• Augmented Reality to test products
• Virtual Assistants (bots, quiz / Tech)
• Virtual Assistants (real people)
• Wearable Beauty Tech (Sun / Pollution detector)
• E-Makeup (Filters)