After lockdowns hit stores, a lot of brands suddenly had to find ways to showcase their products in innovative and online-only methods, says analyst Moorut, who notes the momentum has continued. Even if stores are [now] open for business, itll take a while until consumers feel comfortable to visit and engage in the same way as before the pandemic. Anything that beauty brands can offer that can showcase products digitally is a good tool to have in a brands arsenal.
The integration of Skin Matchs technology can take between two weeks and two months, with plans to reduce the time further. The need to work to short time frames is imperative, Benz realised early on in the companys development. With the way we were originally structured, businesses needed a lot of tech capacity for them to integrate out solutions, so it often took up to a year. Thats not a sustainable business model, she says. We worked a lot on making our solutions super simple to integrate. That has been huge for our success.
The company has raised 350,000 to date, with a further 550,000 in funds currently being finalised. Skin Match plans to invest in product development, new hires to work on the client base and even smoother integration for brands including tools such as Shopify plugins. We want to really make it an automated process to use our tools especially to make it even more affordable and feasible for the younger startups.
The process of creating a flexible pricing structure has been challenging. Over the last year and a half weve invested in finding a product market fit, says Benz. A solution that works for smaller startups interested in Skin Match tools is to start charging a fee only when they actually use the tools. The usage based approach allows us to offer our solutions to startups. So, even if youre a brand that has just launched, you can already afford us.
The Skin Match focus on inclusivity goes beyond skin tones. The company recently began working with Look Fabulous Forever, a brand founded by Tricia Cusden (at the age of 65) that targets the 50+ age group. Skin Match is developing a foundation finder that takes into account ageing skins needs, such as the changes that occur during menopause or the drier skin that comes with ageing.
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