Magnificence tech 2022 tendencies from Mintel embrace metaverse, NFTs, blockchain and system innovation

In CosmeticsDesign-Europe’s 11thMagnificence 4.0 Podcast​ – a digital collection taking a look at how expertise 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 in regards to the evolving market tendencies behind magnificence tech and sheds gentle on key alternatives for manufacturers seeking to play into this house, be it by way of gadgets, NFTs, metaverse involvement or blockchain.

Consumer tech versus business tech

“There’s quite a lot of tech coming by means of that’s actually fascinating to take a look at from that end-user aspect of issues,” ​McDougall stated.

“However then additionally, expertise in magnificence is basically fascinating to take a look at when it comes to on-line and what the digital house means. Clearly, these tendencies 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 resembling connecting nearly (…) and I believe the longer term goes to be this mixture of on-line and offline buying,”​ he stated.

The rise of the metaverse, for instance, opened up very fascinating alternatives for on-line engagement and wonder buying, he stated, as did the work behind NFTs [non-fungible tokens]. The most important problem for magnificence manufacturers working within the metaverse or with NFTs, nevertheless, was understanding what path to take customers in after participating them, he stated.

“I don’t know if we all know totally 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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