Although we have been taught to believe in recycling, only 9% of all plastic trash produced in 2018 was recycled. Each year, the beauty industry produces more than 120 billion units worth of packaging. Very little of this packaging is recycled. An estimated 92 million tonnes of textile waste end up in landfills around the world.
To meet environmental milestones, reducing waste is crucial. Some retail companies have developed a unique way to reduce the amount of trash their customers throw away. Personalization can help consumers find the right products and reduce waste, while also increasing conversions and loyalty.
To meet environmental milestones, reducing waste is crucial. Some retail companies have developed a unique way to reduce what customers throw away.
Personalization will be the most popular category of tech investment for retailers and big brands this year. Personalization is also appealing. According to Epsilon, 80% of respondents indicated that they would be more inclined to do business with companies that offer personalized experiences, while 90% said they found personalization attractive.
Three categories include startups that offer sustainable personalization solutions, which also increase business for brands and retailers.
AR virtual try-on, with shade matching
High-tech virtual fitting rooms that use VR/AR to help you find the right fit for your fashion.
Smart packaging using IoT/distributed ledger technology.
AR virtual try-on using shade matching
It is easy to map faces, as it is not difficult to place lipstick colors on a face. However, using AR and AI for recommendations of skin-tone-matching makeup products has proven challenging for many AR virtual-try-on companies. Ive been searching for an intuitive foundation-shade-finder tool since launching Cult Beauty in 2008, and nothing has lived up to the experience of having a professional match you in daylight until I discovered MIME, says Alexia Inge, founder of Cult Beauty. She says that there are many variables, such as light, skin tones and prevalent undertones. There is also OS, formula density, formula oxygenation and preference for coverage levels.
Christopher Merkle, founder of MIME, is the CEO. However, virtual try-on technology has seen a lot of growth in the last few years but it doesn't address the main customer problem: shade matching. Since day one, my company's R&D efforts have been focused solely on color accuracy. I want the product to be the right shade when it arrives in the mail.
MIMEs Shadefinder AI lets consumers take a picture of themselves and answer some questions. Then, they can be matched with the right makeup color for them. MIME can help retailers and brands increase online and in-store sales conversions by as much as five times. Merkle claims that MIME can achieve returns as low 0.1%, while more than 22% of beauty return are due to poor customer colors.