Perfect Corp. Reveals the Top 5 Technology Trends at the Forefront of the Digital Transformation at the Global Beauty Tech Forum

Perfect Corp.'s annual Global Beauty Tech Forum returned virtually for the second year in a row on November 17^th, gathering industry leaders from trailblazing global brands to spotlight the future of beauty tech and the impact of artificial intelligence (AI) and augmented reality (AR) technologies across the beauty shopper journey. This year's event, Beauty Reborn: The Acceleration of Digital Transformation with Beauty Tech, featured keynote presentations from Perfect Corp.'s Founder and CEO, Alice Chang, touching upon the importance of commerce, personalization, and a direct-to-consumer ecosystem for a successful digital strategy. The event also featured action-oriented panels and discussions featuring speakers from Shiseido Group, Meta, Allure, NARS Cosmetics, Combe - Just for Men, Laura Mercier, Cosmopolitan, Black Opal, Danessa Myricks Beauty, Vanity Planet, WWD, and Glossy, highlighting the rapid rise of AI and AR technology within the retail and beauty space.

Leading the Future of Beauty Tech with AI and AR Technology

The conference brought together industry leaders for a glimpse into how forward-thinking brands are successfully implementing AI and AR solutions through social commerce and virtual try-on (VTO), to deliver more personalized omni-channel retail shopping experiences. Perfect Corp.'s Founder and CEO, Alice Chang, shared fascinating insights surrounding the beauty tech solutions that are set to revolutionize the beauty space in 2022, and beyond. The opening keynote announced the launch of several cutting-edge solutions, including the all-new makeup application learning software, YouCam Tutorial. The innovative tool allows brands to teach their customers how to use their products through animated application techniques that engage consumers in a new and exciting way. The opening session also announced a special offer in partnership with Meta, to allow new beauty brands to incorporate Perfect Corp.'s AR Virtual Makeup Try-On into their online stores on the Instagram platform. The limited-time offer supports Perfect Corp.'s mission to enable scale with a pledge to equip up to 100 small, medium, and enterprise brands with the award-winning technology.

The in-depth guest sessions featured power executives who elevated industry conversations around beauty and fashion technology, raising challenges and solutions around how organizations can remain agile and adapt direct-to-consumer (DTC) and physical strategies to the post-pandemic retail space.

Below are the top trends and takeaways that were gleaned during this year's event:

1. The surge and scale of digital transformations. The dramatic shift towards safe, contactless shopping experiences that rely on AR and AI technologies to solve consumer pain points continues to accelerate. As brands bridge the gap between the physical and digital worlds, we are entering a new "phygital" realm requiring brands to lean into AI and AR tech to create more impactful shopping experiences that drive engagement and conversion across all consumer touchpoints.
2. Rapid cross-category expansion with improved omni-channel experience. Perfect Corp. saw impressive expansion within the beauty industry, incorporating product shade matching and recommendations, hair color and skincare. Additionally, the release of hyper-realistic 3D virtual try-on effects opened roads for expansion into new categories like eyewear, jewelry, accessories, nail art, and men's grooming, with virtual beard color and beard style try-on. The technological advancements integrate across all consumer touchpoints, allowing brands to optimize their omni-channel strategy, fine-tuning the customer experience.
3. Sustainability remains a priority. Perfect Corp.'s innovative technology is meeting a unique demand at the intersection of tech, beauty, and sustainability. Brands must prioritize a commitment to sustainable beauty practices, and AI and AR technologies are helping them achieve that by reducing the use of wasteful testers, packaging and transportation from the traditional shopping experience.
4. The evolution of digital media and social commerce. Much like the retail environment, the media industry continues to adapt to what consumers want, putting an emphasis on experiential content that brings the words to life in an interactive, hyper-engaged manner for the reader. We also see the introduction of this kind of content across social commerce activities as it becomes the new normal when looking to engage with users in a new, interactive and hyper-engaged way.
5. The democratization of beauty technology is right now. From large global brands to emerging indie brands, beauty technology solutions are becoming widespread and quickly adopted to help enhance the customer shopping journey.

Standing at the Precipice of the Beauty Industry's Digital Revolution

"This year's Global Beauty Tech Forum brought together great minds to cover a myriad of important topics across industries undergoing radical changes at the hands of AI and AR innovation," said Alice Chang, Founder and CEO of Perfect Corp. "It's exciting to be at the forefront of the digital transformation and consumer evolution. Perfect Corp. will continue to deliver new technologies and rich new experiences to help brands meet their expectations within both the physical and digital worlds."

For a video recap of all panels and presentations from the 2021 Global Beauty Tech Forum, please visit: https://www.perfectcorp.com/business/global-beauty-tech-forum

About Perfect Corp.

With over 950 Million downloads globally, Perfect Corporation is dedicated to transforming how consumers, content creators and beauty brands interact together through AI and AR technologies. Our experienced team of engineers and beauty aficionados are pushing the frontiers of technology to create the beauty platform of the future ? a fluid environment where individuals express themselves, learn the latest about fashion and beauty, and enjoy instant access to the products from their favorite brands. To discover expert beauty tech insights and unlock powerful ROI secrets, read our Complete Guide to Beauty Tech.