Beauty brands are being tipped to join the non-fungible token (NFT) bandwagon to forge closer bonds with their most loyal customers, something that is becoming increasingly difficult to do today, according to a Web 3 expert.
Everybody is talking about the metaverse - a new, mysterious and still largely undefined space, but one that is brimming with beauty opportunities, says a marketing expert.
Whilst the metaverse remains an evolving space and concept, there is plenty of opportunity for beauty to use the world to engage, create and build communities, say leading beauty execs.
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Beauty tech is developing at a fast pace and there are plentiful opportunities for brands to play into this space, from smart consumer devices to metaverse engagement and blockchain for traceability, says Andrew McDougall, director of BPC at Mintel.
LG Household & Healthcare is the latest beauty company to dabble in the NFT craze, but one expert is questioning the future of beauty NFTs when considering the grand scheme of the metaverse.
P&G launched new digital platform BeautySPHERE at the CES trade show in January. CosmeticsDesign spoke with Alexis Schrimpf, Vice President of Design, Global Skin and Personal Care at P&G about what the platform is and how the metaverse plays...
Unified commerce where online and offline are intrinsically linked, a sharper and smarter focus on data, and investment in the metaverse must be the future focus for beauty brands and retailers, says a retail expert.
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