L’Oreal‘s Bold Move into Beauty-Tech: The Future Looks Fabulous!
So, it seems L’Oreal has decided that merely slapping lipstick on a pig just won’t cut it anymore. No, it needs a tech facelift—with an investment of a staggering 1.2 billion euros annually in innovation! According to Ana Jaureguizar, the General Director of the Consumer Products Division for L’Oreal in Spain and Portugal, they’re on a mission to become the undisputed champions of ‘beauty-tech.’ Who knew beauty could be so high-tech? The last time I saw that much investment go into something pretty, it was a hedge fund manager trying to keep his hair transplant clinics afloat!
The Beauty Conversation
At the recent 39th Aecoc Consumer Congress, Jaureguizar certainly got the crowd buzzing when she declared that “beauty attracts buyers and is a key category to drive sales in retail.” Well, I’ll drink to that! In a world where we’re inundated with skincare products promising to turn back time quicker than a time machine, who wouldn’t want to buy into the dream? Interestingly, L’Oreal is the number one advertiser in Spain, and let’s be honest: when half of social media is nattering about your products, you can’t help but feel a bit fabulous yourself!
But here’s a twist for the TikTok generation: Beauty conversations on TikTok have surged by a whopping 180%! Yes, folks, that’s not the only thing surging—so is the pressure on brands to keep up with these beauty-hungry consumers! Everyone and their grandma are now aware of the pros and cons of that latest eyeliner. The public is “more demanding and more unfaithful,” or as I call it: typical human behavior. Pick a shade, darling!
The Technological, Yet Human Touch
Furthermore, L’Oreal is apparently doubling down on its online conversion rate, thanks to some wizardry called augmented beauty services and a staggering 1.5 billion products featuring QR codes. QR codes! They’re not just for dodgy takeaway menus anymore. Though, in a brave stance against a dystopian future where robots sell us beauty, Jaureguizar assured us they’re “technological, but deeply human.” You see—AI is now like that quirky friend who enhances your creativity without completely overshadowing you at the dinner party.
And in a move that sends chills down the spine of beauty influencers everywhere, L’Oreal has pledged to refrain from using AI-generated human images to promote its products. Nothing like a little authenticity in our Instagram feed right? I can hear the influencers groaning already—“But what about our glossy, fabric-like skin!”
Shifting Focus
Now if you thought L’Oreal was just targeting the elusive Generation Z, think again. Jaureguizar revealed they’ve turned their attention to older consumers and the growing immigrant population. Yes, it seems that fabulous skin knows no age—or nationality. Also worth noting is that tourism accounts for a neat slice of 8% to 15% of sales in the beauty industry in Spain, making it one of Europe’s growth leaders in the sector. Who knew that slapping on a bit of cream could have such economic implications?
The Final Blow-Dry
In sum, L’Oreal isn’t just putting their money where their mouth is; they’re attempting to transform beauty as we know it. With cutting-edge technology, a heart for humanity, and a gaze firmly set on increasingly diverse consumers, they’re making it clear that the beauty game is about to change. It would seem the future of beauty isn’t just in the bottle but within the vast, unpredictable realms of tech. And who knows? If things go as planned, we might all be able to peel back a few more years—not just on our faces but in our rapidly evolving beauty experience.
So, keep those mirrors handy and don’t forget to smile at yourself—L’Oreal is working hard behind the scenes to ensure beauty never goes out of style, even if our curlers do!
The French multinational beauty products company L’Oreal annually invests around 1.2 billion euros in innovation with the aim of becoming the leader in ‘beauty-tech’, according to Ana Jaureguizar, general director of the Consumer Products Division of L’Oréal in Spain and Portugal.
During his presentation on the second day of the 39th Aecoc Consumer Congress, Jaureguizar pointed out that «beauty attracts buyers and is a key category to drive sales in retail» and highlighted that L’Oréal is the number one advertiser in Spain, both in conventional media and in the digital market, where «one in every two conversations on social networks mentions one of our brands. Beauty conversations on TikTok have increased by 180%. The public is now more demanding, more informed and more unfaithful”, which forces brands to adapt and innovate.
Furthermore, he has highlighted its commitment to technological innovation, doubling the online conversion rate thanks, among others, to its augmented beauty service and the 1.5 billion products with QR codes. Even so, he has assured that they are “technological, but deeply human”, reiterating that AI enhances creativity without replacing human intelligence. “We are committed to not using human images generated with AI to promote our products,” he reaffirmed.
“L’Oréal has moved from focusing on generation Z to focusing on older consumers and the growing immigrant population, especially seniors and those with high purchasing power.” Jaureguizar has also pointed out that tourism represents between 8% and 15% of sales in the beauty industry in Spain, one of the European countries with the greatest growth in the sector.
