Status : Verified
| Personal Name | Abangan , Sharmaine Roda M. |
|---|---|
| Resource Title | The Next Big Makeover: The Future of Augmented Reality in The Philippine E-Commerce Cosmetics Industry Through Scenario Building |
| Date Issued | 1 May 2021 |
| Abstract | Over the years, technology has revolutionized the Cosmetics Industry. COVID-19 has restricted customers worldwide to their homes for months, and most retail shops have been deemed non-essential, forcing them to close their doors, the beauty industry has taken a major hit and is struggling to withstand the general drop in consumption. Every year, the global beauty industry generates more than $500 billion in revenue, supporting millions of jobs, interests, and customer preferences. Post COVID, market leaders should exert more efforts to pull their businesses out of the challenging time and ensuring that their brands thrive. During these challenging times, the beauty industry's digitization was inevitable. However, this is not a novel concept. Prior to COVID19, most beauty companies already had online distribution platforms in place, and in-store sales still accounted for most of the revenue. Consumers heavily relies on in store purchases because they can test out the products physically. However, COVID-19 rapidly changes the game and accelerates the industry's digital transformation. Most customers are unwilling to take the risk of shopping at brick-and-mortar or physical stores stores, so they resort to online shopping instead. Beauty companies are now making improvements to their online stores around the world to accommodate changes in the buying habits of customers and increase sales. The major multinational beauty companies are now conscious of new technologies and digitization strategies. This paved the way for the them to dominate the online sales market even before the pandemic. Some of these businesses gambled on Augmented Reality (AR) technology, which proved to be a wise decision. AR uses mobile technology to construct immersive virtual worlds by adding computer-generated effects to real-world objects. Customers can virtually "try on" a variety of different items and colors, such as lipstick, mascara, and blush, using makeup effects, for example. Several w |
| Degree Course | Master of Technology Management |
| Language | English |
| Keyword | Cosmetic industry; Augmented Reality (AR) technology |
| Material Type | Thesis/Dissertation |
Preliminary Pages
123.08 Kb
Category : F - Regular work, i.e., it has no patentable invention or creation, the author does not wish for personal publication, there is no confidential information.
Access Permission : Open Access