How technology is changing traditional markets in cosmetics
Is it enough for companies to offer the same type of services to their customers like they used to do 5 years ago? Digital disruption is all around us. Either you have the capabilities and resources to follow this trend, or your business will become obsolete.
All types of industries are starting to digitalize either their production processes or their products. For instance, Puig, a fashion and fragrances company has boosted a platform called Puig Future. This initiative is intended to collaborate with different stakeholders of the industry, either startups or current customers and suppliers. The objective is to reinvent the actual fragrance market supporting the most innovative ideas and projects.
Following this path, Puig and BSH have started a partnership translated into a new company named Noustique Perfumes S.L. The target of this alliance is to “research, develop, manufacture and commercialize capsules of essences and perfumes, also digital archives for the market of perfumes”.
The result was the creation of the Alchemist Atelier. They offer a personalized and digital experience, were the customer can select different scents and personify their perfume through the Scent creator and a mobile application. In conclusion, everyone can be their own perfumist. They have gone one step further than producing and selling a predetermined perfume, they have created an environment around this product.
Engine, the innovation design studio of Idneo, is specialist in studying and creating new digital environments for more traditional products or services. People search further than the product itself, but they seek the experience it can offer to them. This technological ecosystem starts with connecting the product through a mobile applications offering a more personalized and holistic solution.