The beauty industry is set to change. From high-end, niche brands such as Hourglass, Avon, Maybelline and Estée Lauder to Amazon and Wal-Mart, the beauty sector is seeing a shift in how consumers want to experience their beauty products. The landscape is shifting quickly with the emergence of the metaverse — a digital world that blends the real and virtual into one seamless experience. Let’s take a look at how the metaverse will impact the beauty industry in the coming years.
The metaverse is here!
The next major buzzword in the beauty industry is the metaverse. The phrase has experienced a resurgence in use thanks to its potential as a replacement for the current online experience. This idea is not new. For instance, Amazon’s own recommendation for virtual reality headsets in the early ’90s is an example of this concept. It’s also not a new concept for consumers either. The majority of online shoppers have already experienced it with VR and AR technology. For consumers, the metaverse can be used to create a fully immersive shopping experience. It can also be used to increase product discoverability by allowing consumers to virtually try on clothing, shoes and other products.
The beauty industry in the metaverse
VR has already transformed the beauty industry — with native beauty apps and smart shopping experiences now a reality. However, the beauty industry is ready for the metaverse to enter the picture. With more retailers and brands entering the space, the potential for full-scale digital beauty experiences is growing. With increasingly powerful computers, consumers can now even experience their favorite beauty products in 3D.
What the beauty industry can learn from blockchain
The beauty industry can learn a lot from blockchain — the technology behind cryptocurrencies such as Bitcoin. Blockchain is a decentralized, public ledger. This means that it is not controlled by one entity and is distributed across a network. The beauty industry can look to blockchain to transform the way consumers buy products. Blockchain can be used to eliminate fraudulent products and to significantly increase the level of confidence beauty brands have with their customers. This can be achieved through immutable, quality assurance.
The way customers interact with businesses and products is being rapidly transformed by the metaverse. The beauty sector is primed to switch from the existing online purchasing paradigm to a metaverse-based one. This can provide genuinely immersive shopping experiences and greatly improve brand visibility. The metaverse has the potential to revolutionize the way people purchase cosmetics in the beauty sector.