How L'Oreal, LVMH, Coty and Shiseido are changing the face of the beauty industry
With millennial and Gen Z shoppers making up 29% of the total beauty market, beauty conglomerates such as L’Oréal have to shift their strategies to align with the needs of young buyers. The beauty buyers journey starts online, but only 8% of those perusing the web end up making their final purchase through eCommerce.
The beauty industry is leading the way in the omni-channel shopping existence that is adopting augmented reality, or AR, into their digital experiences. This technology allows the beauty buyer to swipe through an endless catalog of makeup, including lipstick and eyeshadow shades for virtual try-on via a live mirror or a photograph.
Download the full report for insights on how four prominent companies are investing in accelerator programs with the world's best start-ups.