The beauty industry has never been this urgent before—right here, right now.
The beauty industry’s competition and urgency for information to attract consumers' eyes are exceptionally high, especially in this generation and its descendants. The beauty industry is now in a gray area and in a complicated threshold between the remnants of Generation Z and the new generation, Generation Alpha. As a result, beauty companies now have to develop foresight on how to sustain their company while riding the wave of instant and evolutionary changes.
Generation Alpha is now developing a consciousness, which includes people born between 2010 and 2024. With the oldest being 14 years, they have now reached the age to be able to develop their own identities, follow trends, and establish strong connections with others.
With the innate structure of technology guiding Gen Alpha in life, they are now the most advanced generation with a myriad of resources and educational tools sustaining them. Beauty standards and trends come with that—there is now an issue for beauty companies, especially startups, to figure out.
Beauty companies should not just focus on trends but also have this question always within the back of their heads: What are new developments within the world where we can connect beauty together, developing innovations that are new, unique, modern, and emerging?
The answer is the rise of AI. With inventions such as ChatGPT, Meta, and TikTok, AI has been a fundamental aid to Generation Alpha and their development. AI seems to advance a lot more the more Generation Alpha advances. Thus, beauty companies should aim to install AI platforms within their e-commerce businesses and websites that can attract Gen-Alpha. In addition, even millennials and boomers are a target because they have never had such advanced technology in their realms of beauty, let alone their realm of living.
The beauty industry is rampantly incorporating AI features to not only sustain their business but also to keep up with daily trends. For example, companies are using ChatGPT to generate content to showcase products to shoppers, like its extension of GPT-4. In addition, the incorporation of chatbots and virtual assistants are prevalent amongst e-commerce businesses, like websites. Installing these support systems helps with customers in a convenient and efficient way. In addition, for beauty companies, having AI algorithms that can identify certain types of flows and trends within the market is essential for assessing the overall health of the company itself. Most importantly, a significant feature nowadays that satiates the needs of shoppers and businesses are beauty cameras that can identify and detect the facial features and needs of shoppers and recommend products for them. This feature is bidirectional in both shoppers' and businesses' needs because not only does it help shoppers with purchasing products, but it helps businesses garner cosmetic data based on shoppers which could pose as a fundamental resource for them in the future (making more products based on shoppers’ needs, advancing AI systems in detecting skin complexities, and more).
Sources:
https://www.infobip.com/blog/are-you-ready-for-generation-alpha
https://www.fotor.com/blog/ai-platform/
