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Beauty Brands Should Consider AI, Personalization, To Adapt To Industry Changes

May 29, 2018: 12:00 AM EST
Beauty brands should take advantage of developments such as artificial intelligence, personalization, and the rise of indie brands in order to adapt to a changing market. According to Terry Young of Sparks & Honey, beauty brands should try to emulate the success of Instagram, Amazon, and Netflix by thinking “exponentially" rather than incrementally to create a competitive edge in the industry. Young, who is the CEO of the cultural consultancy company, said brands can achieve a 10X status by offering more personalized experiences, customized products, and actively engaging smaller brands in the fragmented, yet rapidly growing, marketplace. [Image Credit: © Sparks & Honey]
Faye Brookman, "Beauty Needs to Keep Up With the Speed of Change", Women’s Wear Daily, May 29, 2018, © Penske Media Corporation
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