Lorealparisusa can help you skin#
The first product launch of the Technology Incubator Division was the Makeup Genius in 2015, a mobile app that uses Augmented Reality to let customers try makeup using their cellphones and uses a collection of data points around facial characteristics, including face shape, skin tone and wrinkles. The acquisition gives L’Oréal a leg up and highlights the importance of securing a technological march over competitors already in the short-term. Since 2012, the company has its own Technology Incubator division, a start-up like team focused on matching beauty and technology and in March of this year, L’Oréal announced the acquisition of Modiface, a major Augmented Reality beauty company that provided solutions for L’Oréal and its competitors. L’Oreal, the world’s largest cosmetics company, is taking the lead in the beauty industry and betting on augmented reality and machine learning.
Personalization builds loyalty by offering a more intimate relationship and is a crucial tool to differentiate a company’s product and customer experience in the competitive beauty market. Companies can have access to infinite behavior consumption data, using it as input to develop products and more targeted and efficient market campaigns.
These technologies help to directly address customers concerns, solving their beauty pain points without wasting time or money with products that won’t actually do a great job. In order to solve those issues, beauty brands have recently launched different apps and gadgets to promote their portfolio and connect to the customer on a more personalized way. Anyone who purchased a makeup one day knows it is not an easy task: the market is taken by an infinity number of brands, people have very different skin colors and face types, and products are usually expensive to allow for error.