A look at the new “her economy” led by Meitu Beauty AI from Black Friday

From the moment we are born, we have more or less a rational side and an emotional side. But for most women, when they are faced with shopping or online shopping, emotions often dominate, and they are prone to impulse buying. According to the interesting "impulse" data of Wacai Accounting and Xianyu Trading, among the groups that have overspent their budgets in the past year, women accounted for as high as 57%. In other words, compared with men, women are more likely to make impulse purchases. Especially on large e-commerce shopping festivals such as Double 11 and Black Friday, many women will buy many products that are not very suitable because of impulse. However, all this is quietly changing...

After repeated purchases, people start to think calmly. Blind impulse consumption is beginning to turn into rational impulse consumption.

Alternate speculative spending with careful budgeting.

In today's Double 11 and Black Friday promotions, consumers, especially many female users, no longer take all the discounts when faced with various discounts, but start to be frugal and carefully distinguish which coupon combinations can get the best value for money. As users become more and more aware of online shopping festivals, the behavior of pure impulse consumption is gradually reduced.

Quality concerns replace price concerns.

Judging from the sales volume of 167 brands on Tmall that exceeded 100 million during this year's Double 11 shopping festival, the sales of large brands began to account for a higher and higher proportion of the sales during the entire shopping festival. It can be seen that during the shopping festival, users began to pay more attention to brands, and the consumption structure also changed from survival-oriented consumption to enjoyment-oriented and development-oriented consumption. Consumers began to pay more attention to "good products at low prices" and service quality. Shopping decisions are no longer based on price as the only consideration, and "buying on demand" has become a new consumption trend.

From this we can see that users' blind impulse consumption is gradually fading. However, it is difficult for anyone to be absolutely rational, especially female users, who are still emotional when facing shopping promotions. Coupled with women's desire to buy, impulse consumption still exists, but compared with the previous blind impulse consumption, they will be more rational.

However, almost all e-commerce platforms and merchants are facing a new problem: how to balance the contradiction between "promotion" and "rational" consumption?

During the Black Friday shopping festival, Meitu Beauty leveraged AI to be the first to solve the difficult problem of balancing holiday promotions and rational consumption

As many e-commerce platforms and merchants are anxious about this contradiction, Meitu Beauty has launched an interesting and professional skin testing function based on leading artificial intelligence technology and massive big data, which conforms to the user's transition trend from "blind impulse consumption" to "rational impulse consumption". In the Meitu Beauty APP, users can get a set of professional skin problem solutions by taking a selfie, and the platform will also give highly targeted product purchase suggestions based on the user's skin problems, which largely avoids blind consumption by female users.

The advantage of Meitu Beauty's AI empowerment model is that, on the one hand, it helps users achieve rational consumption through technological empowerment, allowing consumers to buy the most suitable and practical beauty products for themselves; on the other hand, it also avoids users' impulsive consumption caused by blind choices on beauty products, and effectively avoids users' blind hoarding of goods.

In addition, Meitu Beauty also caters to consumers' tastes in terms of product variety and quality. The platform has both first-tier brands such as La Mer and SK-II, as well as well-received niche brands such as Royal Nectar and Jinershi. Compared with other e-commerce platforms, Meitu Beauty's products have not only been strictly inspected by customs and national inspections, but are also insured by ZhongAn Insurance, China's first Internet insurance company, which means that every beauty product purchased by users can enjoy the greatest "authenticity guarantee". This series of sincere actions has successfully attracted a large number of loyal fans to Meitu Beauty shortly after its launch. Currently, the number of new users on the platform has exceeded 4 million per month.

From this point of view, Meitu Beauty's technology empowerment model provides a good answer to how e-commerce should deal with the contradiction between merchant promotions and consumer rationality during the transition period of changing consumer demand. The AI ​​skin test function launched by Meitu Beauty solves the irrationality of female users in beauty product consumption in a small way, and in a big way, it is equivalent to solving the contradiction between merchant holiday promotions and user rational consumption. Driven by Meitu's leading AI technology, technology is playing an increasingly important role in the future development of e-commerce.

A new "she economy" led by AI is quietly emerging

From JD.com's 618 to Tmall's Double 11 e-commerce carnival, to the Black Friday global shopping festival, women have always been the main force in the e-commerce consumer market. Modern women's free consumption supported by more income has also boosted the female economy. But today, rational impulse consumption has gradually become the mainstream trend, and the "she economy" is no longer the casual and blind consumption of the past. Driven by Meitu Beauty AI technology, the "she economy" is evolving into a new economic form.

In the new “She Economy” era, AI helps “rational impulse consumption”

In the old "she economy" era, faced with a wide range of diverse products, many female consumers often had no idea where to start and did not know which products were really suitable for them. Therefore, under the stimulation of price promotions, they made blind impulse purchases.

In the new "she economy" era, using AI to select products is a new experience mode of "she economy". For example, in the field of beauty and cosmetics, which is difficult for many women to choose, Meitu Beauty's AI skin testing function helps consumers to truly understand their skin problems and purchase the beauty and cosmetics products they need in a targeted manner, providing consumers with a reason and basis for rational consumption.

In the new "She Economy" era, AI and big data help businesses achieve precision marketing

In the old "she economy" era, many businesses may not be clear about the real needs of female consumers. During the transition period when the entire consumption trend is transitioning towards "rational impulse consumption", it is difficult to further impress female consumers with low-price promotions alone.

In the new "she economy" era, with the help of new technologies such as AI and big data, e-commerce platforms and merchants can clearly understand women's interests and real needs for products, and accurately recommend products that are truly suitable for female users. Meitu Beauty is based on the massive female user data accumulated in the early days, through the in-depth research advantages of female products and the establishment of a beauty product brand pool, to provide consumers with more professional and accurate product recommendation services.

From this point of view, the "rational" trend of the entire e-commerce industry is leading the consumption behavior of shopping festivals to shift from the past "blind impulse consumption" to the current "rational impulse consumption", and the era of rational impulse consumption is also coming. With the help of AI technology, Meitu Beauty has taken the lead in solving the difficult problem of balancing merchants' holiday promotions and users' rational consumption. From unmanned retail, AR shopping, to today's Meitu Beauty AI skin testing, the model of e-commerce applying black technology has become more and more mature, and a new "her economy" dominated by black technology is quietly emerging.

Liu Kuang, uses Zen to comprehend the Internet, WeChat public account: liukuang110

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.