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Up from $483B in 2020 to $511B in 2021 — and with an annual growth rate of 4.75% worldwide. What are we talking about? The beauty industry, of course!
Including makeup and skincare, the beauty industry is expected to exceed $716B by 2025 (source: commonthreadandco.com), thanks to the expansion of cosmetics marketing through digital channels and the attraction of more customers willing to pay higher prices for higher quality.
From luxury brands and big corporations to smaller and drugstores businesses, the next trend in selling makeup and skincare online is Augmented Reality. But let’s start from the beginning!
In the context of the low-touch economy, we’re living in, selling beauty products online to new customers who never tried your brand can be hard, if not impossible. Customers are very picky about choosing the perfect shade based on their skin and preferences, and for a long time, offering this opportunity online has been impossible.
