Weekly Newsletter - 20.6.2024

Insights from Cannes Lions 2024 and Function of Beauty Expands to Amazon

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Beauty Broadcaster
June 20, 2024 • Estimated Reading Time: 7 minutes

THE LATEST IN BEAUTY AND COSMETICS

INSIGHTS FROM CANNES LIONS 2024
AI Revolution in Beauty

Sam Carter, CEO of Fospha, shares his insights from Cannes Lions 2024, highlighting the transformative impact of digital marketing and AI on the beauty industry. The event showcased revolutionary advancements from major ad platforms that are set to reshape consumer engagement and brand strategies.

TikTok introduced AI-generated avatars and advanced language dubbing features, significantly enhancing personalization. With the new suite of Shopping Ads and TikTok Shop, TikTok is shaping a new AI-powered commerce ecosystem.

Meta highlighted its AI-driven media buying tools, with AI recommendations powering 40% of Instagram content and driving over 2 billion Reels reshares daily, effectively boosting engagement and consumer connections.

Snapchat pushed the boundaries of augmented reality (AR) with real-time frame re-rendering guided by natural language prompts, creating immersive experiences for users.

Amazon impacted the streaming ad market by converting Prime Video to an ad-supported version, potentially reshaping how platforms negotiate with advertisers.

Reddit introduced "comment ads," unlocking new ad inventory within active communities, beneficial for beauty brands to engage and build loyalty.

Meta’s AI advancements offer transformative potential for beauty brands. AI chatbots improve customer service, while AI-driven media buying tools optimize advertising strategies. These tools foster deeper connections and personalized experiences, helping brands create strong, engaged communities. For instance, brands can use Meta’s tools to create dedicated groups for customers to share beauty journeys and receive expert advice, enhancing loyalty and engagement.

TikTok's AI-powered shopping tools are pivotal for the beauty industry. With users sharing makeup tutorials and product reviews, AI-driven shopping features enable real-time product showcases, virtual try-ons, and interactive live sessions, driving sales and brand loyalty.

Reddit's comment ads offer beauty brands unique engagement opportunities. By promoting products within relevant subreddit discussions, brands can increase visibility and foster authentic interactions, enhancing trust and loyalty.

Carter recommends that brands understand customer preferences, utilize AI-generated content, and embrace new ad formats. With AI advancements making DTC attribution complex, partnering with robust measurement providers is crucial for optimizing marketing efforts. These innovations empower beauty brands to connect with audiences more effectively and drive growth.

NEW DISTRIBUTION PARTNERSHIP
Function of Beauty Expands to Amazon

Allure.com

Function of Beauty, a custom hair care brand founded in 2015 by Hien Nguyen Kaplan, Joshua Maciejewski, and Zahir Dossa, has announced a new wholesale partnership with Amazon, expanding its distribution channels. This collaboration will offer Amazon customers the brand's Target line of products, including bundles and kits for various hair types. Additionally, Function of Beauty is now providing both its Target and Pro lines from Sephora on its own website, aiming to create a comprehensive shopping experience.

The company initially launched hair styling products at Target in January 2023 and introduced the Function of Beauty Pro line at Sephora in August 2023. These products are now also available on the brand's website. Function of Beauty's proprietary algorithm allows for the creation of personalized hair care formulas, boasting 54 trillion possible combinations. The brand's products are sulfate-free and paraben-free. The company has seen several executive changes, with co-founder Zahir Dossa stepping down as CEO in 2021 and being succeeded by Alexandra Papazian, a former L'Oréal executive. In 2022, Marianna Trofimova, another L'Oréal veteran, joined as chief marketing officer.

Function of Beauty has raised over $247 million in funding since its inception, with the latest round in January 2022. This expansion to Amazon and the inclusion of its Pro line on its website reflect the brand's ongoing efforts to reach a wider audience and streamline the customer experience.

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The Sustainable Cosmetics Summit in NYC showcased groundbreaking advancements in green manufacturing, consumer engagement, and AI-driven marketing. Discussions focused on making sustainability concepts accessible, addressing greenwashing issues, and harnessing social media to build consumer trust. The event emphasized the critical role of visual strategies and cutting-edge technologies in promoting sustainable beauty products, inspiring a future of eco-friendly innovation in the beauty industry.

Briogeo marks its 10th anniversary by launching the Style and Treat collection, featuring four styling products. Available at Salon Centric, CosmoProf, Ulta, and Sephora, the new line aims to expand Briogeo's presence in the textured hair care market, leveraging social media and stylist partnerships.

Rihanna launches Fenty Hair, offering products in 100% PCR materials. The line includes shampoos, conditioners, and styling tools, all featuring the Replenicore-5 complex. Designed for all hair types, the products aim to repair, hydrate, and protect hair while promoting sustainability.

Unilever leverages AI to offer personalised beauty experiences, boosting consumer engagement and sales. Tools like BeautyHub PRO and Dove's Scalp + Hair Therapist provide tailored product recommendations, enhancing market differentiation and growth. These innovations align with Unilever's commitment to superior digital beauty solutions.

The Sustainable Cosmetics Summit in NYC showcased groundbreaking advancements in green manufacturing, consumer engagement, and AI-driven marketing. Discussions focused on making sustainability concepts accessible, addressing greenwashing issues, and harnessing social media to build consumer trust. The event emphasized the critical role of visual strategies and cutting-edge technologies in promoting sustainable beauty products, inspiring a future of eco-friendly innovation in the beauty industry.

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