Beauty Industry Embracing Metaverse
By Vishakha Thakur
Technological advancements are propelling the beauty industry to unprecedented heights. As more people spend time in virtual worlds, beauty firms want to be there too, offering new opportunities for customers to experience their products and services.
Digital beauty is pushing marketers to look for new ways to connect on social networks, where digital natives and Gen Zers are shaping how customers interact with and shop for products. Global beauty brands are adopting the metaverse to engage their clients.
What advantages does the metaverse provide for consumers?
In the metaverse, consumers will be able to travel anywhere, at any time, to virtual storefronts where they can interact with products using a unique avatar while also participating in a virtual beauty consultation or demo. Today’s beauty innovators and influencers use avatars in virtual communities to encourage diversity, and they create NFTs to connect a brand’s visual identity to limited-edition products.
- Purchase virtual blocks of land and monetize them
- Create a customizable avatar or digital twin
- Attend trade exhibitions, concerts, and educational seminars
- Play online games and earn real-world goodies
- Make your own games or VR experiences
What does metaverse mean for beauty brands?
Beauty firms are investing in the metaverse because they perceive it as a novel and fascinating way to interact with customers. In the metaverse, brands can set up virtual stores where customers can try on and buy things in a digital environment. They can also organise virtual events in which customers can connect with the company and one another, as well as put on makeup or hairstyles electronically.
Investing in the metaverse also enables beauty firms to keep ahead of the technological curve and innovate. As more people spend time in virtual worlds, beauty firms want to be there too, providing new opportunities for customers to experience their goods and services.
Beauty Brands Embracing Metaverse
Metaverse beauty brands have embraced innovation by creating interactive platforms that offer personalised immersive experiences to existing, new, and potential customers. Many cosmetic firms, like P&G, L’Oréal, Matrix, and Clinique, are integrating their goods directly into Metaverse platforms.
P&G
P&G Beauty introduced BeautySphere, a virtual storytelling environment, at the Consumer Electronic Show, marking their first foray into the metaverse. BeautySphere is accessible from any desktop computer and allows customers to connect with the company’s portfolio of products via live and simulated content, livestream panel discussions, and a gamified challenge.
L’Oréal
In 2022, L’Oréal’s corporate venture capital firm BOLD announced a minority investment in Digital Village, a US-based startup that provides a metaverse-as-a-service platform and NFT marketplace for brands, creators, and communities. This move represented L’Oréal’s first venture capital investment in the metaverse and Web3.
Matrix
Matrix, a Canadian professional hair colour business, has unveiled its latest invention, Tonal Control Pre-Bonded. Stylists had access to this semi-permanent gel toner collection during an exclusive metaverse event. Other beauty brands that have lately entered the metaverse are Living Proof and Buxom Cosmetics.
Clinique
Clinique has launched Clinique Lab, a fully immersive, multi-sensory gamified experience that blends retail and edutainment. After creating a distinctive avatar, users may explore various zones, including a museum that highlights the brand’s history and a skin school that provides both video courses and interactive diagnostics with customised skincare solutions defined in real time by advisers.
How can metaverse transform the beauty industry?
Virtual Try Before You Buy
Virtual try-before-buy opportunities are one of the most profitable components of the Metaverse for the cosmetics sector. Augmented reality technology allows people to visually apply makeup, test skincare products, and experiment with alternative looks in real time. This feature dramatically decreases the uncertainty around online purchases, resulting in improved conversion rates and sales.
Beauty Influencers in Virtual Environments
The advent of virtual beauty influencers in the Metaverse has added a new layer to the beauty market. All digital influencers can now offer virtual tutorials, beauty advice, and product suggestions, thereby engaging more consumers.
Real-world Integration
Despite its digital character, the Metaverse has real-world applications in the cosmetics sector. Virtual cosmetic try-ons and consultations can effortlessly transition to in-person product purchasing. Beauty firms can incorporate Metaverse experiences into their physical storefronts or online platforms to provide customers with a more comprehensive beauty experience.
Immersive Learning & Education
Metaverse is an excellent platform for immersive beauty instruction. Beauty professionals and hobbyists can participate in interactive tutorials, workshops, and training sessions, which promote skill development and knowledge exchange.
Virtual Beauty Services
Metaverse allows beauty professionals and influencers to deliver virtual beauty services. This may include virtual cosmetics consultations, beauty education, and personalised skin care suggestions. Users are eager to pay for expert advice and services, resulting in a successful niche in the metaverse.
As the Metaverse evolves, it is poised to become an essential component of the beauty industry’s ecosystem, improving customer experiences and redefining beauty standards for the digital age. This is why the beauty business prefers the metaverse.
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