Augmented reality (AR) and Virtual Reality (VR) bridge the digital and physical worlds. They allow you to take in information and content visually, in the same way you take in the world. AR dramatically expands the ways our devices can help with everyday activities like searching for information, shopping, and expressing yourself. VR lets you experience what it’s like to go anywhere — from the front row of a concert to distant planets in outer space.
The AR & VR in Cosmetic & Beauty global market is projected to grow at a CAGR value of 25.5% from 2022 to 2027 [1].
Introduction of these innovations are allowing consumers of different individualistic or fashion ingenuity to gain varying perspectives of their purchasing behavior by providing customers with a much more vibrant online shopping environment.
This technology helps in Skin Analysis; by analyzing skin it provides insights on buying using AR/VR technology.
Furthermore, the potential of such technology in educating clients from their homes, much like retailers do in stores, to aid them to feel comfortable with making internet shopping was a big growth factor. Additionally, with the development of AR/VR technology, users may now digitally experiment with hair colors, artificial eyelashes, and different shades of lip colors, and eye colors, all of which promote growth.
Moreover, the Asia-Pacific region is expected to be the fastest-growing segment in the augmented & virtual reality cosmetic & beauty market. Increased disposable incomes and the proliferation of online purchasing marketplace by millennials are two major factors fueling the expansion. High consumer awareness of cosmetics items such as face makeup, hairdressing, and coloring products, as well as developing infrastructural facilities and a rise in internet users, are likely to drive regional market growth.
The impossibility of trying out a physical experience in-store will be increasingly compensated by company websites through strong storytelling, detailed product descriptions, illustrations that evoke the texture and sensory side of the product, and having make-up and hair coloring tried out virtually. Solutions have to be more refined and precise to gain the trust of those who want to buy.
Advantages of AR & VR in the beauty fields
Digitizing the experience
A real 3D online fitting of the product anywhere and anytime as if you were in a physical shop.
Reduces uncertainty
AR removes doubts about the final outcome of the makeup, one of the main barriers to online purchase.
Increases social interaction
The Virtual Try in AR can be instantly shared by creating huge explosion of content on the social networks.
Time Saving
Trying on product in any location regardless of your location avoids a long-distance travel and stress of “fitting" on site.
Reduces return rate
Virtual Try On avoids need for dissatisfied customers to go through long laborious procedures to return the product.
Strengthens relationship between customer and the brand
Brings the product into life, gives it a strong value connotation from very first moment.
Taking this into consideration RAMICOS COSMETICS - A color and non-color cosmetics brand is soon to come up with AR and VR technology into their app this 2O23.
Way forward
The AR/VR technology accelerates the creation of omnichannel services to enhance the consumer experience at every touch point. Further, virtual make-up, live streaming, augmented reality shopping are key features in a modern beauty journey that integrates online and offline experience.
About the Author
Dr. Nalli Ramya is an Otorhinolarygologist by education. She is the Head and Neck surgeon at JIPMER. Ramya wears various capes as CEO and founder of RAMICOS cosmetics, International Director for Women Empowerment CMAI-ASIA, Board Director of Research media group- INNOVATIONS, an Author and an International motivational speaker.