Emphasis on magnificence tech driving personalised magnificence manufacturers to steer trade

The beauty industry has continued to see new brands emerging onto the market, even in the midst of the global COVID-19 pandemic.

However, with beauty shifting towards more tech-focused innovation, Rohan Widdison, CEO of manufacturer New Laboratories, questions how many new brands will be able to cut through the noise and make a name for themselves.

“Everybody wants to be in this space because they think: this is how I’m going to make money. But it’s such a crowded space that sometimes I wonder where some of them are genuinely going as a brand. You’re going to have to create the electric car version of cosmetics… if not you’re not going to be any better off in 20 years.”

With the pandemic, technology has enabled the industry to rise to the challenge and accelerated the development of beauty tech greatly.

Widdison expects to see the growing breed of companies using technology to lead the industry, highlighting personalised beauty brands such as Function of Beauty and My AlpStory, which utilise machine learning and robotic systems.

“This is where consumers can really benefit from technology. I think the days when we would just go to a store or online to get a moisturiser are past. It’s about being really specific and if you get something that works for the client on that level, then they’re going to be a loyal customer.

“This is also a bit of a warning to the major brands that are still wedded to department stores and duty-free models where they are expecting people to walk through and pick things up.”

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