Makeup Brands Bracing to Enter the Metaverse

Also, considering the interoperability of avatar-virtual skins, the beauty industry seems to have a part to play in landing the Metaverse. Makeup brands like Givenchy are joining the digital space. Even Perfect Corp took the lead in launching metaverse-style virtual booths and planned to incorporate fashion and beauty NFTs.

Other makeup brands are bracing to enter the Metaverse, and here’s why:

3D E-commerce

The COVID-19 pandemic affected the global economy with shifts to digital channels for day-to-day activities and interactions. Following the closure of stores due to regulations, many beauty customers turned to these channels for inspiration and beauty advice. Currently, e-commerce is experiencing a popularity boom, with brands like L’Oreal having a 30% growth and Unilever experiencing a 38% rise in e-commerce growth.

Among the popular beauty brands, the Perfect Corp YouCam Makeup app recorded over 17 billion beauty virtual try-ons in 2021. It joined a multi-channel agreement with behemoth Coty to boost personalization and the customers’ digital experience in its Covergirl brands and Kylie Cosmetics.

Lancome also unveiled a virtual UK popup store that ByondXR powers. Noam Levavi, the brand CEO of Lancome, also approved that 3D e-commerce is a vital asset in improving customer engagement. Following the launch of ByondXR in early February 2021, customer engagement in its virtual stores increased by 350%.

Digital Solutions

Most beauty companies are shifting to digital tech to ensure customers are satisfied and have successful NPD. Brands like Givaudan launched DigiPulse. DigiPulse decodes spontaneous online comments from customers about fine fragrances. This AI-powered technology is considered the first olfactory social listening device.

It can even market fragrances in a smell-without-smelling e-commerce environment. Several brands are launching online skin analysis tools powered by AI, such as the Silk Skin Checker launched by the Sensei makeup line. This technology also introduced Foundation Finder and Virtual Make-Up. It has recently announced its intentions to combine digital and real-world technologies through Artificial Intelligence for skin analysis.

Creativity and Experimentation

As the pandemic forced the closure of retail stores, makeup beauty brands had to keep up with innovative ways to uphold the interest of their customers in their products. They decided to enter and explore the virtual world. Some study results indicate that people prefer skincare routines over beauty products. Most of these makeup brands offer virtual makeup testing on their apps. These apps use augmented reality (AR) to simulate the makeup testing procedure.

Customers can explore different lipstick shades, nail polish, and foundation before purchasing them online. The Metaverse is a virtual world where people can conduct day-to-day activities. Therefore, it is only logical that these technologies appear on that platform.

Launched by Naver Z Corp, Zepeto has partnered with various beauty brands that offer makeup looks. Here customers can try new looks and explore more options in the same brand.

Livestream Shopping and NFTs

Major makeup brands are also promoting their products by offering  NFTs. Givenchy Parfums, Nars, and Clinique are just a few brands offering non-fungible tokens. Thus, the Metaverse allows customers to acquire and own rare and exclusive products. Also, Livestream shopping allows its customers to interact and have an immersive experience in the Metaverse. 

Livestream shopping has also become a popular strategy used by influencers and content creators to expand their audience.

Self-Expression

Since avatars exist in the Metaverse as the virtual counterparts of real-life individuals, people can express themselves in the virtual world similarly to how they do in real life.

Makeup brands can understand the desires and whims of their customers through the digital space. Customers can experiment and voice their preferences using the virtual setup without compromising their tastes.

Conclusion

The virtual space is a profitable and growing market. Makeup brands can also be part of the digital universe, improving customer engagement. Virtual world users can express themselves through avatars that mimic their real-life appearance. Thus, the use of makeup becomes possible in the Metaverse.

Also, the virtual world inspires creativity and innovation that can boost the product quality of a brand, which in turn will improve customer satisfaction. As more beauty brands brace to enter the Metaverse, it is evident that the virtual world is the new trend for better customer engagement.