Beauty in Digital World by FIT

The Fashion Institute of Technology's (FIT) beauty industry think tank unveiled "disruptive" visions for the future of consumer product marketing in three key areas of the digital sphere during the presentation at Beauty in a Digital World on June 5.

The key areas—digital analytics, digital marketing, and digital commerce—were presented by candidates for the Master of Professional Studies degree in the college's Cosmetics and Fragrance Marketing and Management (CFMM) program.

This year's research was conducted in conjunction with Google, Inc., and with contributions from leading global digital technology and business experts, with the support of event sponsor, Beiersdorf North America.

The predictions from the research included:

?  Leveraging artificial intelligence, facial recognition, and predictive analytics technology will revolutionize the in-store experience by completely personalizing it.

? Motion-activated technology will allow consumers to virtually browse aisles of products located anywhere in the world and make purchases directly from interactive screens in their homes.

? "Beauty on Demand" will utilize image-, sound-, and video-capture technologies to allow consumers to shop for anything, anywhere – with just one click. The street becomes the new shopping mall.

? Micro-targeting, enabled by data and technology, will allow brands to create highly personalized communications. The result, micro-engagement, will increase individual consumer lifetime value for brands.

? ROL is the new ROI. Return on Learnings (ROL) will replace Return on Investments (ROI) as a new real-time metric to track and drive brand value.

? Sensors will be molded into product packaging to track actual consumer usage behavior.
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