Subjective needs are a key motivator in creating a custom concept, noted Khazaka. This spans everything from skin concerns like anti-aging or sensitivity to fragrance.
“A marketer can have the best cream on Earth, but if the scent isn’t right, it won’t sell!” he said.
External influences such as lifestyle and environment are also imperative in weighing data.
“You cannot take care of every need—so you have to gauge what is most important,” said Khazaka.
Recent examples of brands that are having success from customization include L’Oréal’s Makeup Genius App and Shiseido’s recent acquisition of MatchCo, a personal-blend foundation company.
“Cosmetics just started to grow in the customization marketplace. Information must be collected to know the needs,” he said.
Julia Tsvetkova, senior director, product management for compliance data servicer 3E Company, then presented on regulation matters.
“How can you manage product compliance proactively in the age of digital beauty? Get knowledgeable on the list of restrictive and banned substances. Companies struggle under the burden of spiraling global regulations,” she said.
According to Tsvetkova, taking a “strategic approach” to compliance is the way to keep up with the industry.
“A good compliance strategy is to stay ahead of consumer trends by monitoring the latest scientific studies,” she said.