L'Oréal teams are all about innovation and a true passion for developing new products to better serve our consumers. It is crucial when it comes to product development to be able to seize at the earliest stage new consumers expectations. One way to go would be to follow the trends, but then it’s often too late. The L’Oréal way is to detect new trends earlier than anyone to tailor products to consumers’ awakening needs!
You think prediction and accuracy cannot live in the same sentence? Think about it twice! Today’s tech is here to make what seemed impossible yesterday possible. And that’s what TrendSpotter, a project accelerated within the Beauty Tech Accelerator, is all about: detect & predict beauty trends accurately on a 6 to 18 months time horizon, in the main beauty categories: skincare, haircare and makeup! Our internal team of Prospective & Consumer Intelligence, specialized in the knowledge of beauty & consumer, is proud to have initiated a platform that highlights in one click the must-see trends of the moment!
So how does the magic happen concretely?
First, an AI Trend Detection Engine reads what the trendsetters have shared and contributed online: on blogs, social media etc. Who are those trendsetters? The famous beauty influencers, celebrities, beauty professionals and scientific experts followed by many and whose recommendations are likely to drive attention! The AI engine reads everything and is trained and intelligent enough to capture beauty related posts and spot keywords that could become the products of tomorrow for beauty consumers across the world. Those rising trends, captured early on, cover everything from ingredients to texture, packaging, or lifestyle among others.
Our Prospective, R&I and Marketing teams have already started to use TrendSpotter. Their feedback is unanimous: social listening has never been so efficient!