How beauty players can scale gen AI in 2025 | McKinsey

Jan 6, 2025 · Beauty is no longer in the eye of the beholder; it’s at the fingertips of the generative AI (gen AI) prompter. Gen AI could add $9 billion to $10 billion to the global economy based on its impact on the beauty industry alone, 1 “The economic potential of generative AI: The next …

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How Beauty Players Can Scale Gen AI In 2025 | McKinsey

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Alexandra Mondalek On LinkedIn: How Beauty Players Can Scale …

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Our first McKinsey Consumer practice article of 2025 is here! Gen AI could add $9-10B to the global economy based on its impact on the *beauty industry alone*, and early movers have …

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How Beauty Players Can Scale Gen AI In 2025 - McKinsey & Company

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Jan 6, 2025 · Gen AI could add $9 billion to $10 billion to the global economy based on its impact on the beauty industry alone, and early movers have already begun testing the technology. …

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How Beauty Players Can Scale Gen AI In 2025 – The Leader Report

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Jan 6, 2025 · Beauty is no longer in the eye of the beholder; it’s at the fingertips of the generative AI (gen AI) prompter. Gen AI could add $9 billion to $10 billion to the. Leadership; …

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FAQs about How beauty players can scale gen AI in 2025 | McKinsey Coupon?

How does McKinsey look at the beauty industry?

We need to keep in mind that McKinsey is looking at the beauty industry from 30,000 feet in this piece. The consultants are describing high-level macro trends, including big CPG companies using regular price increases to boost their sales in a market with little or no unit growth. ...

Is McKinsey's price-fueled growth over in beauty?

McKinsey Declares Price-Fueled Growth Is Over In Beauty. How Should Brands Respond? In a recent report on the business of beauty, McKinsey & Co. forecast that the global beauty industry will proceed at an annual growth rate of 6% to reach $590 billion by 2028, up from $446 billion in 2023, which saw a 10% increase from 2022. ...

Does the beauty industry continue to grow in 2023?

This article was edited by Alexandra Mondalek, an editor in the New York office. The global beauty industry continued to grow in 2023, but the dynamics driving sector growth are shifting. A new analysis shows some emerging bright spots and how players can compete. ...

What challenges will beauty players face in 2024?

One challenge beauty players will face includes understanding why consumers may be trading down and where their appetite for luxury products is growing, given that we see a mix of both trade-down and trade-up behaviors in the market. For example, in 2024, consumers who traded down did so most frequently by switching to lower-priced retailers. ...

How has digital changed the beauty industry?

For decades, they have sought out innovations, embraced the stories behind brands, and enjoyed the shopping experience, solo and with others. For decades, these characteristics have shaped how beauty brands marketed and sold their products. But today, digital is dramatically expanding the beauty consumer’s connection with brands and products. ...

Are Gen Z and millennials interested in beauty?

Specifically for gen Z and millennials, the same report found that younger consumers (18-44) show a strong preference for experimentation and routine stacking in beauty, implying that these consumers are looking at their beauty purchases as a source of novelty and entertainment beyond pure play value. ...