Revieve unveils metaverse “playbook” assisting beauty industry with virtual solutions

22 Sep 2022 --- Revieve is releasing its Complete Metaverse Playbook for Beauty Brands and Retailers to take full advantage of new prospects in these virtual spaces. The report outlines the future of the metaverse and discusses how personal care companies should navigate it.

The metaverse can be used to deliver virtual shopping opportunities, enlarge a company’s reach and improve brand recognition to deliver memorable experiences that engage customers. Additionally, the metaverse may be beneficial to increase consumer trust by implementing robust loyalty programs and improving accessibility with greater responsibility, details the report.

“The metaverse is the next future-vision of what technology could feasibly provide, including more immersive experiences. It will continue to change in name, size, scope, promise and hype as more viable capabilities emerge grounded in human demand and desire,” details Dean DeBiase, executive chairman at Revieve.

By improving how consumers connect with their preferred brands at various touch points, key businesses in the beauty industry are embracing the digitization of brand-and-consumer interactions.

Benefits of the metaverse
The company explains that the metaverse is here to stay because it is boosting loyalty programs with NFTs, opening virtual businesses for consumers to shop online and segmenting people to build deeper relationships that meet their needs.

“Metaverse and NFTs present a new opportunity for beauty brands to reformulate what data, loyalty and community mean to their customers,” says Kim Oguilve, communications lead at Revieve.

Revieve offers insights to help retailers and brands understand the groundwork they need to lay for the metaverse (Credit: Revieve).“Let’s face it, this goes beyond the actual asset in play – it’s about making their brand salient to new consumer groups and consumer behaviors. But only time will tell what all the possibilities are, but we know they can be endless.”

According to Revieve, momentum is crucial for brands and retailers to capitalize on as consumers satisfactory online experiences become the new norm.

Key players in the beauty industry have incorporated new technologies into their brand experiences to offer virtual online stores and shopping, AI-powered personalization, and NFTs to elevate their loyalty programs as the future of the metaverse continues to transform how consumers interact with brands and retailers.

Reaching new audiences
The report details that brands and retailers are moving to the metaverse due to Millennials and Generation Z. The metaverse can help make tech better and more widely available by facilitating development tools for the people, the company details.

Younger generations care about community creation, connection and engagement through digital platforms, gaming platforms, social media and emerging technologies like virtual reality, the blockchain and cryptocurrencies.

Brands can attract the attention of younger audiences by becoming a part of this early metaverse.Revieve adds that with younger audiences flocking to the metaverse, it is a suitable method to capture the attention of a new audience and change the perception of your brand among this valuable demographic.

Therefore, brands can attract the attention of younger audiences and change their perception of their brand by becoming a part of this early metaverse.

Digital beauty: AI and AR solutions
Revieve has been making moves within the digital beauty space. To create a customized service with licensed and brand-certified beauty experts in cosmetics, skincare and hair care, Revieve collaborated with Magnet Beauty. The company also partnered with JCPenney to enable the latter to tailor the shopping experience for customers through an AI skincare advisor and a hyper-real AR makeup try-on solution.

In other developments, Revieve and The Best You partnered to deliver various skincare products and cosmetic procedures to Canadian consumers, establishing a new benchmark for virtual medical diagnostics.

Meanwhile, Revieve partnered with Marionnaud Italy to bring an AI Suncare Advisor to the Italian market. The collaboration aimed to make it easier for consumers to identify appropriate sun care products tailored to their skin type and lifestyle.

By Nicole Kerr