« Market research firm Euromonitor International has released an overview of the growing wearable tech sector within beauty, and has outlined its analysts’ predictions for upcoming developments…
The at-home beauty devices market has been showing significant growth, albeit from a small base, for some years now, with fellow market analyst firm, Kline, stating that the beauty device category grew by 14 % last year.
But, responding to mass consumer interest in wearable health and fitness devices, beauty brands are now looking to turn the enthusiasm for at-home beauty devices towards wearable devices too.
New technologies and capabilities are facilitating this shift in focus, Euromonitor‘s overview confirms.
More than a fifth of respondents to Euromonitor’s Annual Online Survey on Technology stated their interest in purchasing wearable technology, and the firm’s analyst Nicole Tyrimou’s overview has confirmed that although a little slow on the uptake, beauty brands are now starting to respond to this demand.
The market analyst observes that developments in chip technology (seen, for example, in a deodorant chip being developed by Google), and in UV sensors (being used to create devices which alert consumers when more sunscreen is required) has allowed beauty to start tapping into the tech trend.
However, as it stands, the technological capabilities of these products remains limited, and yet the devices have entered the market with high price tags, meaning they are currently appealing to only a very limited number of consumers.
“As the majority of wearable technology in beauty remains as gadgets/luxury products rather than functional, problem-solving offerings, their use and presence is expected to remain niche,” confirms Tyrimou.
Developments opening doors
While they may be a luxury item for now, strong R&D investment may see practical and affordable wearable tech products eventually hitting the market.
L’Oréal is one of the few major brands currently making a real effort to take on the startups in this arena, as the multinational recently demonstrated how a wearable device could have a big future in dermatology for thermal evaluations in a non-invasive manner.
The cosmetics giant says companies can find out the condition of the skin at certain points and develop products that specifically target certain issues, using an inconspicuous, ‘band-aid’-like piece of kit.
“Developments in wireless technology will provide a path to continuous monitoring of skin properties and function using these concepts,” says the research team. »
Article by Lucy Whitehouse
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