How Social Media is Shaping the Beauty Industry

Beranda

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Beauty
How Social Media is Shaping the Beauty Industry

andromedia1978

07-10-2021 09:31

How Social Media is Shaping the Beauty Industry

The future of the beauty industryis now more beautiful than ever. With the help of technology, the beauty industry is now able to embrace the beauty of all races, skin tones, and body types. Technology seems to have successfully reshaped the standards of beauty industry dramatically – both in the way of how beauty products are distributed and how they are sold to customers. Big brands such as Estée Lauder, Sephora, and L’Oreal have embraced this digital revolution positively which resulted in higher traffic and higher revenue. In 2020, the global cosmetics market is estimated to reach $675 billion, with recent surveys suggesting that the average of women spends around $313 a month on her appearance, with men spending up to $244. Yes, the beauty industry is currently also targeting men for beauty products. This is thanks to the many insights and phenomena on the internet about how men and women equally need beauty products to enhance their quality in life.

The significant growth of the beauty industrydoes not come only from the product innovations itself, but also from digital marketing perspectives where strategies are being implemented to attract and retain customers. Estée Lauder, Sephora, and L’Oreal have invested in AR (Augmented Reality) and VR (Virtual Reality) to lead the market. Other brands have also implemented other digital trends to satisfy customers’ needs.