Beauty Technology can be a tough industry to break into, especially because there are so many products, styles, and points of entry, not to mention that consumers want the same style of product at varying price points. Some consumers want the Rolls Royce of facial lasers with all the bells and whistles, and some want the reliable Toyota Camry version. The main goal of CE retailers should be to provide solid quality products that yield low return rates, especially for products that make reshelving difficult, such as beauty and hair tools.
Market Growth for Beauty Tech
Prescient & Strategic Intelligence reports that “the global home-use beauty market value will reach $89.9 billion in 2030 from $14 billion in 2022.” Based on the projection that beauty technology is set to grow significantly, it is time for CE retailers to hop on board. ResearchAndMarkets.com elaborates further that, because of a noticeable increase in consumer focus on skin health and anti-aging, dermatology-style products such as home lasers and light therapy are expected to account for a good portion of industry revenue growth. Additionally, the geriatric population’s need for skin care tools is creating high demand for skin-improving devices, with the most common categories of beauty technology tools being those that focus on the face.
Facial Massagers
Facial massagers are a new way to bring the spa experience home and have been proven to reduce tension and improve circulation. The gold standard for vibrating massage bars is the Jillian Dempsey Gold Sculpting Bar, which retails for $195. The bar has received rave reviews for its sculpting and ability to ease puffiness. Many other products on the market also include heating and cooling features for a more immersive facial experience. These are designed to treat more specific skin concerns, such as dullness or collagen deficiency. Those that offer heat and light treatment range in price, however the average well-rated device, like the Therajuve Face and Neck Massager, retails for around $60.
Face Cleansing Devices
Electronic and battery-powered skin cleansers and acne tools are making a splash in the beauty technology industry for both men and women. Facial cleansing brushes can provide a deeper clean, remove dead skin cells, and exfoliate the skin. The FOREO LUNA cleansing brushes are the Rolls Royce of skin cleaning brushes, with specific brushes that target anti-aging, oily skin, and they even have a brush dedicated for men. The FOREO LUNA Line of brushes is receiving rave reviews on Amazon and other beauty retailers such as Sephora. Some of these brushes Also have LED additions. For consumers looking for a simple and reliable tool (like the Toyota Camry), the Olay Regenerist Facial Cleansing Brush has impressive reviews and retails under $30.
Light Therapy Devices
The National Library of Medicine has approved light-based therapy as a safe and effective method for the treatment of acne. Light therapy uses LEDs to treat acne by targeting oil glands in the skin. Red light and blue light both target acne and inflammation, however, red light can target issues that occur deeper within the skin. The type of light used is dependent on the product and the intended result. For example, the beauty technology tool Lightstim for Acne uses red light to target oils and destroys the bacteria that cause acne. On the other hand, the FOREO Espada uses blue light technology to increase circulation and cell regeneration. There are also light masks such as the Omnilux Contour Face that individuals can wear which utilizes both red and blue LEDs. These masks are far more expensive, with some costing several hundred dollars.
Hair Removal
For those looking for products to remove hair rather than enhance it, one of the most utilized pieces of grooming technology for men is the electric razor. One of the best razors across the board is the Phillips Norelco, which has a stellar rating and tens of thousands of reviews on Amazon. Another option for hair removal technology is personal hair removal lasers. These devices use light energy, which is turned into heat, and then used to destroy hair follicles. Hair removal lasers are a more expensive form of hair removal device, costing upwards of $800. Hair removal units tend to range between $200 and $1000. Right in the middle is the Tria Beauty Hair Removal Laser 4X, which is FDA cleared and cordless, retailing at $499.
Virtual Reality and Beauty Technology
Most major beauty retailers offer Virtual try-on options. Virtual try-on software allows customers to try on different shades and brands of makeup without opening a single package. This saves retailers on returns and provides higher customer satisfaction. VR has so much room for growth, especially with aging projections. We should look for more opportunities for VR to simulate skin aging and recommend technology products to mitigate projected issues.
Key Takeaways
Retailers should stock items from the above categories to provide a comprehensive solution to consumer needs. Electric skin care tools and laser hair removal devices are newer additions to the CE beauty market, and retailers should consider selling reliable and well-reviewed devices at varying price points to appeal to all consumers. Additionally, retailers can use virtual reality devices as a tool to sell these devices, which can lower damage costs and return rates for products that cannot be restocked. Beauty technology is a growing industry, and retailers can now appeal to consumers at all price points while still supplying solid products.
