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Our founder LiJun featured in Forbes🤝 See how Ontology Network can advance the beauty and lifestyle industry with ONTID and OScore, whilst protecting customers' sensitive data!

17 January 2021, Berlin: Three bottles with "Chanel No. 5 Paris" printed on them stand on a shelf in ... [+] the window of a perfumery. Photo: Soeren Stache/dpa-Zentralbild/ZB (Photo by Soeren Stache/picture alliance via Getty Images) dpa/picture alliance via Getty Images

The effect of technology, on the beauty and lifestyle industry, has exponentially increased its market share - and then some! As of 2020, the beauty and lifestyle market segmentation has been valued at over $532 billion dollars. Adding over two billion digital buyers to the list, the beauty and lifestyle industry has seemingly reached its golden years. In the coming years, without a shadow of a doubt, the market value is bound to reach new heights.

Modifications in technology has opened-up the beauty and lifestyle market to a world of vast and quite often unfamiliar opportunities. In fact, over the last 5 years, beyond digital payment gateways, customer relationship management, and global marketing, technology has been the catalyst by helping quadruple the market value— currently reaching an annual growth rate of 27%. 

The digital revolution in the luxury retail market is taking flight:

SHANGHAI, CHINA - AUGUST 06: A Model walks the runway during the Louis Vuitton S/S21 Men's ... [+] Collection show at Shanghai Tank Art Park on August 6, 2020 in Shanghai, China . (Photo by Yanshan Zhang/Getty Images) Getty Images

In June 2017, luxury brand leader LVMH launched its online retail store named 24 Sevres. In addition, the global powerhouse named their e-commerce portal after their brick and mortar store - which is situated in the heart of Paris. Luxury fashion noteworthy players such as Far-fetch, Yoox, and Net-A-Porter have all seemingly taken significant roles in implementing the digital revolution to new heights. In fact, they many times invest tremendously in premium content and technology— to co...

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