Data-driven personalisation and Generative AI among top beauty tech trends for 2024

Personalised AI and AR platforms Revieve and Perfect Corp have identified a number of beauty tech trends expected to transform consumer experiences in 2024 and beyond.

Revieve is technology company delivering hyper-personalised beauty experiences for global brands and retailers, powered by AI and AR.

As it looks to the year ahead, the company believes that data will continue to play a pivotal role in shaping the beauty industry's future and help drive success for brands and retailers in 2024 and beyond.

In its latest report, Revieve labelled data as "the new currency driving business decisions and shaping customer experiences". It highlights the significance of data-driven personalisation strategies that result in an increase in return on investment (ROI) for brands and retailers.

Miikka Makio, SVP EMEA at Revieve, said: "The meaning of data will steadily start transitioning from a one-sided collection of consumer data for marketing purposes, to real-time personalisation based upon highly valuable data that will enable brands and retailers to gain a much deeper and more meaningful understanding of their beauty customers."

Meanwhile, fellow tech solutions provider Perfect Corp has placed Generative AI at the heart of its technology trend predictions for 2024.

Generative AI is a type of artificial intelligence technology that can produce various types of content, such as text, imagery, audio and synthetic data.

The company believes businesses that embrace this technology and introduce new ways to connect and interact with consumers will be well-equipped to drive growth in 2024.

It also expects brands and retailers to harness generative AI for "next-level" personalisation, allowing them to better understand each user's unique style, tastes, and preferences to generate custom content and interactions that respond to a user's individual preferences in a meaningful way.

Alice Chang, Founder and CEO of Perfect Corp, said: "The possibilities for Generative AI are limitless. These advanced technologies create an easier, more fulfilled customer journey that drives revenue for brands, and propels a growth cycle rooted in innovation."

The trend predictions come amid a number of other beauty trends for 2024, including dermatological skincare, customised haircuts, and closing the gap between skincare and makeup, according to Lookfantastic's annual Beauty Trends Report.

Hormonal skincare is also anticipated to become a big beauty trend this year. As a result, new innovations and formats are expected to be introduced into the industry.