New technologies have opened up the market for beauty and health in a world of many opportunities and unusual and unusual. In fact, over the past five years, in addition to digital payment systems, customer relationship management, and global marketing, technology has become a major factor in helping the fourfold market capitalization – currently reaching an annual growth rate of 27%.
In June 2017, luxury product leader LVMH launched its online retailer named 24 Sevres. In addition, world powers have named their e-commerce portal behind their brick and mortar store – located in central Paris. Famous fashionistas like Far-fetch, Yoox, and Net-A-Porter all seem to have played major roles in achieving digital transformation at high altitudes. In fact, they tend to invest heavily in premium content and technology – to cover a wider audience and market share.
Most importantly, the beauty and luxury market is well aligned with E-commerce. The reason for alignment, when developed online, is that there is a wide range of potential customers and product awareness.
Recently, I had a brief but special interview with Jun Li, Founder of ONTology, an independent blockchain and data blockchain company, (Their OScore product introduces the first credit program in blockchain history. The feat is their partnership with Daimler Mobility, parent of Mercedes Benz) in a way like technology like Blockchain that contributes to the beauty of today’s fashion and luxury markets.
Joseph DeAcetis: In your words, how does blockchain technology help the fashion and fashion market today?
Jun Li: There are many ways blockchain is affecting the luxury market. In all premium markets, such as beauty or luxury, authenticity is paramount. You will be able to track the manufacturer and make sure you are dealing with the power of blockchain technology.
But most importantly, you will be able to track and verify the sales process. In the realm of luxury, consistent changes are being made, especially in the green, friendly solution. You can track this change from the immature viewing point, past the chain chain until the bag sits on the shelf at your Louis Vuitton store.
This offers luxury products a new way to process signatures for its users where they stand on important issues related to building materials and sales. In addition, we have included patent protection for NFTs as we expect this space to grow rapidly soon. It allows companies to move faster and store data in our blockchain through our data authentication service which lowers their data storage costs.
Jun Li: The beauty of ownership transferred to key Ontology sites is that it can be cooled and used in a variety of fields, including the luxury market. First of all, luxury is about your taste and preferences. It is a form of signing, or more precisely, a form of identification.
By sharing power in communities, we can put your taste in the luxury and beauty markets depending on who you really are – your identity. In terms of application, being able to accurately track your purchase history reveals a certain part of you, while protecting your true identity such as your name, weight, eye color, or other discriminatory factors in the beauty space.
Imagine Sephora or Louis Vuitton knowing who you are at the copyright level, without being able to access your sensitive data points. They will be able to better understand what comfort and beauty you need, such as which toner is best for you based on previous transactions, rather than just how you feel now.
This removes the stigma and discrimination involved at the commercial level and instead allows them to better embrace it at the patent level while protecting it from land redistribution. Also, our data verification service can be used for other faster and cheaper ways.
High technology gives the beauty and luxury industries a complete transformation
Technology is constantly evolving, as well as consumer demand for faster and more efficient service. In the near future, businesses will need to find better ways to meet customer needs.
In an industry worth more than $ 532 million, the beauty industry has always had the desire to keep pace with technological advances. And compliance is about 2020 years. Given all the technology available today, there has never been so much *********** in the beauty market with advanced technology like AI.
But all that is about to change. As technology development companies use AI and other youth technology solutions to promote E-commerce businesses. Novomind is a technology company that uses smart software to promote commerce forms in the entertainment industry. “Our e-commerce software is designed to capture such information that makes a difference, such as large product images, 3-D videos, detailed product details, and content links for storytelling. Visitors are quick to see if the website is of high quality, and then it feels completely different when you look at it compared to a medium e-commerce store, ”explains Sylvia Tantzen, CMO of Novomind AG.
AI can take a crazy amount of data and convert it into biting, digestible, easy-to-understand information. It can effectively fix complex processes and solve complex problems.
With the help of AI, fashionable E-commerce processes can be automated. Things like pre-discussion conversations, over-speculation, product recommendations, better understanding of customer preferences, providing customized solutions, enabling visual product testing and customer-focused product production and much more are now possible thanks to AI.