Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?

I have 18 years of experience in the personal and home care industries. I hold a Bachelor’s, Master’s, and PhD in cosmetics and a diploma in skin nutrition. Additionally, I have an MBA in HR and Marketing and am a certified counsellor specializing in industrial counselling.

Q2. What are the current adoption rates for AI/AR beauty apps?

Over 90% of Americans already use or would consider using AR for shopping.
Another study projects that by 2025, nearly 75% of the global population and almost all smartphone users will become frequent users of AR.

According to Snapchat’s 2022 Generation Report, 93% of Gen Zers are inclined to use AR for shopping, with 88% of them wanting to use AR for makeup try-ons.

59% of consumers have said they would be likelier to purchase a product visualized through AR.

Q3. How are AI/AR beauty applications impacting online sales conversion rates?

As per one of the research studies, the use of AI/AR during shopping helps to influence buying patterns by 2.5 times. 

Q4. What types of personalized products or services are gaining traction?

It is currently used in colour cosmetics to quickly see how that shade of lipstick looks on the face. It also helps the overall makeup look.

We can use AI/AR techniques to determine skin concerns and suggest solutions accordingly. 

Q5. Are major beauty conglomerates investing in or acquiring AI/AR startups?

Yes absolutely. It helps to increase their sales. 

Q6. Are there notable partnerships between tech companies and beauty brands?

This trend has just begun in the industry, and there is tremendous scope for such partnerships. Snapchat is one of the popular platforms for beauty products. 

Q7. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?

I would ask the following questions: 

• How can we provide accurate solutions to various concerns as per consumers?
• How can we make technology affordable to increase consumer reach?