CosmeticsDesign-USA (CDU) spoke to Alice Chang (AC), CEO and Founder at Perfect Corp, to find out more details about how the AI and AR provider has used the data from its digital tools for color nail consumers to form it trend report and what the finding are.
CDU: How can manufacturers and suppliers to the cosmetics and personal care industries utilize the data compiled in the recent report to strategize new ingredients for product formulation?
AC: Brands and manufacturers can utilize the data insights shared in Perfect Corp.’s Nail Color beauty trend report to fine-tune their product strategies to better meet the needs of beauty consumers. In our newest report, we analyzed consumer behavior and nail color virtual try-on data from our highly engaged community in the YouCam suite of apps.
In analyzing this data, we identified the top nail color trends of 2023, including top colors, finishes, nail art designs and retail behaviors. Brands and manufacturers can use these insights to develop new products and offerings aligned with these trends, which in turn will help drive higher customer engagement, brand loyalty and sales.
CDU: What role did AR/AI play in compiling these results?
AC: Perfect Corp.’s award-winning suite of YouCam apps, which includes the YouCam Makeup, YouCam Perfect and YouCam Nails apps, collectively have amassed more than 1 billion downloads globally. The YouCam Nails app features thousands of AR and AI-powered nail color filters that users can try-on virtually.
In the past year, there have been over 7 million AR nail color try-ons in the YouCam Nails app. Perfect Corp. leveraged this big data to pinpoint the key consumer nail color trends that are shaping the nail color retail space.
CDU: What are some of the most important takeaways for manufacturers and suppliers to the cosmetics and personal care industries contained in the report?
AC: One of the most important takeaways from this report is the rapid digital transformation of the nail color industry as well as the beauty industry as a whole. Across the beauty and nail color industries, AR solutions such as virtual try-on technology are becoming essential to engage consumers and increase purchasing confidence.
A major takeaway from our report is the importance of digital innovation in creating impactful consumer experiences. In order to remain competitive and have an engaged customer base, brands and retailers will need to embrace digital technologies as a key component of the customer journey.
CDU: Were there any challenges the industry should be aware of identified in the report? If so, what are these challenges and what are some potential solutions to overcome these issues?
AC: The nail color industry in particular presents a unique challenge for consumers as they are not able to easily sample nail color shades when shopping online and in-store. As a result, shoppers will often choose a color without seeing how the shade will appear when worn. Due to this, customers may feel disappointed with their purchase and be deterred from shopping in the future.
With virtual try-on technology, consumers can experiment with dozens of shades in seconds to find their perfect color. This drives product discovery and leads to increased customer satisfaction. The technology saves time, increases purchasing confidence and allows customers to try many shades before they commit to buying a new nail color product.
CDU: Are there any future plans to apply the technology used to compile this report for future data insights? If so, what are these plans?
AC: At Perfect Corp., our mission is to solve consumer pain points through the power of digital innovation and technology. We will continue to generate impactful reports and leverage big data to help brands, retailers and manufacturers provide the best possible consumer experience.
In the YouCam Apps community, the wealth of AR and AI virtual try-on insights available can drive an impact across industries from beauty, to fashion and beyond. We have published numerous reports on beauty, skincare, dermatology and fashion trends. To view our latest reports, visit Perfectcorp.com.