As the retail industry continues to undergo a digital transformation, AI and AR technology has emerged as a crucial component of the beauty shopping experience. These technologies are helping to enhance and elevate retail, bringing consumers immersive and personalized experiences across the omni-channel shopping journey.
Top 5 Technology Trends Shaping Beauty Retail in 2023
- Sustainable Digital Transformation: Around the world, businesses are turning to technology solutions to create more sustainable business practices. Digital solutions such as AR and AI are among the top technologies allowing brands and retailers to operate more sustainably.
- The Return of In-Store Retail: 2023 will see an increase in brick-and-mortar shopping, as restrictions from the Covid-19 pandemic ease and consumers return to physical in-store experiences. AI + AR technologies can help to elevate in-store shopping experiences, providing experiences that are both immersive and touchless for customers.
- The Rise of AI Skin Technology: During the Covid-19 pandemic, consumers across the world began to prioritize skin care as a key component of their overall wellness routine. This has led to the rise of AI-powered skin technology, which allows brands and retailers to take personalization in skin care to a new level. In 2023, this technology will continue to see widespread adoption.
- AI Personalization: AI technologies are one of the most impactful and effective tools for personalization. Whether by leveraging AI to provide customers with a customized makeup tutorial, or by implementing an AI diagnostic experience to match customers with a tailored skin care product regimen, in 2023, AI technology will play a larger role in the world of retail and beyond.
- The Rise of Web 3.0, Virtual Commerce, and Immersive Digital Experiences: Web 3.0 now holds massive potential as a new revenue stream for brands, whether through interactive virtual stores, digital avatars and wearable product collections and more. To stay competitive in 2023, brands should stay on the pulse of this quickly evolving space, and be sure to consider Web 3.0 and virtual commerce when planning digital transformation strategies.