Photo courtesy of Orbo.ai
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There are nearly 25,000 skincare brands worldwide, including 3500 in India alone. How does a person choose? For consumers, shopping for skincare products for one’s particular needs can be like opening up a delectable box of chocolates. They all look delicious, but until they are bitten into, no one really knows what they are going to get and whether they are going to like it. That unknown is very frustrating for consumers and can lead to customer distrust and dissatisfaction.
Despite it being a $580 billion market globally, the top 50 beauty and skincare brands have seen a 9% decline in brand value due in part to market saturation and certainly increased competition from small, local D2C brands. In attempts to procure market share, brands lose $48 billion annually on performance marketing and social media ads. To acquire customers, brands and retailers are being forced to spend a whopping 40% per transaction. That isn’t sustainable.
Fortunately, a new, up-and-coming AI-driven beauty technology company, Orbo.ai, has developed powerful solutions to help beauty brands provide the personalized, intelligent and customized experiences that their consumers need and desire.
CEO Manoj Shinde explains, “Our mission is to revolutionize the beauty industry using the power of generative AI. Leveraging our innovative technology, we aim to reshape how people discover, express and enhance their unique beauty. Our ultimate goal is to inspire confidence, empower individuals to look and feel their best, and make customized beauty accessible to everyone. We are also certain we can capture 10% of marketing expenditures.”
Orbo is fundamentally an AI research company. To separate themselves from the competition, they have spent extensive time building future-oriented capabilities in order to develop superior product accuracy. That accuracy is crucial for brands in order to create hyper-personalized experiences for their consumers. Orbo’s comprehensive suite of AI-powered beauty solutions includes advanced skin analysis, virtual makeup try-ons and embedded hair augmentation. The platform also features a foundation shade finder.
Additionally, Orbo is innovating when it comes to technology distribution. “Initially, we sold products as a SaaS platform, providing APIs and SDKs. However, with the launch of our flagship solutions Magic Mirror and BeautyGPT, we have significantly expanded our market reach. The Magic Mirror uses AI and a selfie to provide smart skin analysis and personalized skincare recommendations, while our BeautyGPT transforms product discovery, allowing customers to find products quickly using intuitive prompts.”
Shinde adds that the company has spent almost four years building out Orbo’s capabilities. With BeautyGPT, customers are able to find the products they want in one click using their intuitive prompts. “Our accuracy of the product, which is one of the biggest drivers in the beauty and personal care space, is significant. We are dealing with diverse and complex human beings, so it is essential that we are able to accurately showcase or predict the recommendation of or the analysis of skin. It is what matters to us, and it is what drives that hyper-personalization.”
The introduction of the Magic Mirror and BeautyGPT has expanded Orbo’s market potential significantly, from an estimated $100 billion to nearly $580 billion, by moving from online-only to both online and offline channels. “It is what separates us from any other competitor in the market.”
Orbo has garnered significant accolades for its innovative approach to helping beauty brands integrate hyper-personalization. The company secured the biggest-ever deal on SharkTank India, and in a strategic move to enhance its research capabilities, Orbo acquired the US-based startup Gemia. Additionally, Cisco recognized Orbo’s huge market value by offering an acquisition in 2022. Likewise, demonstrating its global competitiveness, Orbo triumphed in prestigious AI Global Challenges in China and Japan, outshining over 700 startups worldwide.
Orbo is providing beauty brands with the solutions to enhance their customers’ experiences and drive technological advancements. With a focus on accuracy, personalization and distribution, Orbo.ai is shaping the future of beauty and retail. Its transformative AI solutions give people the tools they need to find the perfect solutions for their own unique beauty needs and wants. Learn more about Orbo.ai.
