Magnificence tech 2022 traits from Mintel embody metaverse, NFTs, blockchain and machine innovation

In CosmeticsDesign-Europe’s 11thMagnificence 4.0 Podcast​ – a digital collection taking a look at how know-how and innovation will form magnificence’s future – we meet up with Andrew McDougall, director of magnificence and private care analysis at Mintel. 

Andrew McDougall, director of magnificence and private care analysis at Mintel

On this 20-minute podcast, McDougall talks concerning the evolving market traits behind magnificence tech and sheds mild on key alternatives for manufacturers seeking to play into this house, be it through units, NFTs, metaverse involvement or blockchain.

Consumer tech versus business tech

“There’s a number of tech coming by that’s actually attention-grabbing to have a look at from that end-user aspect of issues,” ​McDougall stated.

“However then additionally, know-how in magnificence is absolutely attention-grabbing to have a look at when it comes to on-line and what the digital house means. Clearly, these traits had been round two, three years in the past anyway, however they’ve been accelerated during the last two years with the pandemic, and we’re now seeing us play in areas corresponding to connecting nearly (…) and I feel the longer term goes to be this mixture of on-line and offline procuring,”​ he stated.

The rise of the metaverse, for instance, opened up very attention-grabbing alternatives for on-line engagement and sweetness procuring, he stated, as did the work behind NFTs [non-fungible tokens]. The largest problem for magnificence manufacturers working within the metaverse or with NFTs, nevertheless, was understanding what route to take shoppers in after participating them, he stated.

“I don’t know if we all know absolutely what to do with this viewers as soon as we’ve it. It’s a captive viewers, it’s very lively, and we don’t know what to do with it but.”

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