by Michael Lorence (https://linktr.ee/melorence1)
The pandemic forced several companies to cancel events, close stores, and reduce their overall physical presence. And the beauty industry is no exception. As a result, the market had to innovate to overcome the challenges the pandemic caused upon the industry.
So in an effort to reach customers directly in their homes, cosmetic companies started investing in the metaverse, NFTs, and augmented reality. They provide a way for customers to try on new products digitally, support their favorite brands, and express themselves through their avatars, all from the safety of their homes.
What is the Metaverse?
The metaverse is a 3d virtual reality space made by Meta, previously known as Facebook. It allows users to connect with friends, family, work colleagues, and meet new people online through their avatars in a digital world.
By taking advantage of features like online stores in this new virtual space, companies can advertise their brand by selling exclusive brand cosmetics and clothing to other users for their avatar.
Success Stories in the Virtual World
Gucci and Chanel have already shown us a glimpse of this future by allowing customers a virtual try-on of lipsticks, makeup, and other products using their phones.
Additionally, companies like NARS, Glossier, and Gucci have already partnered with Nintendo's Animal Crossing in the past. It showed that games could effectively reach a wider audience online, making the metaverse even more appealing.
NFTs and the Metaverse
Another way for the beauty industry to capitalize on the metaverse boom is the release of brand-exclusive NFTs and digital clothing. Several big names have seized the opportunity to expand their online presence and attract new customers, like L'Oréal Paris, Nivea, and E.l.f. You can learn more about NFTs in the cosmetic industry here.
Big Names Joining the Metaverse Race
The metaverse is a perfect place for companies to explore new trends on potential customers by allowing them to purchase digital goods before investing in manufacturing or creating interactive experiences. Let's take a look at the beauty companies spearheading this trend and how they're doing it.
After joining the sphere, you can interact with all the brands owned by P&G Beauty. You can check their products, take on fun challenges, and watch panels in it.
BeautySphere is a successful example of how companies may use the metaverse to connect and engage customers in a more meaningful way.
Dior Beauty and Ready Player Me join the metaverse to build a luxurious branded experience where customers can create stunning avatars and watch them coming to life in several environments. The platform also allows customers to hit the "Order" button to buy several exclusive Dior fragrances to be delivered so they can enjoy them in their homes.
NARS partnered with the South Korean metaverse specialist Zepeto to bring their customers several NARS-inspired looks, makeups, accessories, and even photo booths inspired by their Air Matte collection. NARS move on the metaverse focuses on their Gen-Z customers, so the campaign is all about self-expression, exclusivity, and individuality.
The Beauty Future in the Metaverse
Beauty companies have the perfect opportunity to connect with customers using the metaverse. The future is all about user experience and interactivity, as NFTs have shown along with the new metaverse experiences. So expect to see a lot more of it coming from the cosmetic industry as well as many others.