Indeed, if it is correctly applied, experts believe it could bring new dynamics and efficacy to products. Cosmetics Design caught up with to find out more.
Morgan presented at the recent ADF and PCD event in New York, where he discussed some of the most recent smart packaging launches in the beauty arena. And in the first second part of this Q&A interview, he goes into more detail about product category and regional applications for the technology, as well as touching on what we might expect to see in the future.
Which beauty categories are most likely to benefit from the adoption of the technology?
The prominence of social media, influencers, and ecommerce has blurred the lines between consumer and brand. Today’s consumer isn’t just buying a beauty product to fulfil a need, for a lot of them beauty defines their lifestyle. They are constantly following the newest trends, buying the latest products, taking selfies, and sharing their experiences with others in their social networks.
This behaviour results in hyper consumption and is most magnified in the color cosmetics segment where the results of a volumizing mascara or a bright red lipstick are instantaneous. Its almost an addiction!
Which geographic markets will most likely be the early adopters of smart packaging?
It is Asia! There are several factors that are driving this trend, the first is population, Asia is the most populous continent, with its 4.3 billion inhabitants accounting for 60% of the world population.
A large percentage of this population are millennials, they are the largest generation to ever live! Millennials are naturally tech savvy. They use their mobile devises to conduct most tasks and transitions, they are highly active on social media, and have a preference for automated solutions over human interactions.
This has created a generation of consumers that has an insatiable appetite for technology and the never-ending search for products and services that meet the needs of their active and demanding lifestyles.
What do you predict for the future of smart packaging?
At the moment there is a lot of activity happening in the tech space; particularly new innovations supporting the Internet-of-Things. As mentioned above some brands have been able to embed various technologies in a meaningful way to enhance the customer experience.
However there hasn’t been a completely disruptive innovation in the packaging space that can be likened to what the iPhone has done for the mobile industry. I predict that it will only be a matter of time before we reach a tipping point.
Once a consumer need, viable technology solution, and potential business opportunity converge there will be a revolutionary shift in the packaging industry. And for brands to be ready they must have “skin in the game” by dedicating resources and staying engaged in the new tech space so they can identify these nexus points and be first to market with a truly revolutionary technology.