Is there any major tech revolution in the cosmetic industry?


Tech Business Analysis
Well if there is none, one is coming soon trust me. Global cosmetics market is expected to garner $429.8 billion by 2022, that’s a lot of money for any industry with no popular tech disrupt idea yet.

Even my younger relatives that are deeply ‘spiri-koko’, that I felt would never use cosmetics now have make-up kits, and the need for make up won’t slow down anytime soon. Most ladies won’t step out without make up and it’s has definitely turned basic requirement. Transportation and accommodation seemed orthodox until uber and Airbnb. These two do not own cars or houses, but they are the biggest players in their industry.

Jumping on this wagon now would make one the industry standard. You would be in the blue ocean of cosmetic technology. Your idea could come in logistics, manufacture, e-commerce, review and recommendations etc.

Writing this alone, I already have an idea that should fly, and I would try to see how to develop the idea for the cosmetic industry.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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