The North American beauty industry has been booming especially with the rise of indie beauty brands. It is estimated that the industry has blown up to be a $532 billion industry and it isn’t slowing down. So how are consumers deciphering between all the new and existing brands that are being thrown their way? It’s becoming more and more of a hassle to find the right product at the right price. Perusing through reviews on sites such as Ulta and Sephora hours. Then there’s Instagram- where a huge population of the beauty community lives. But again the average consumer doesn’t have the time to search and sift unless they happen upon it through whom they follow or the discover page.
There wasn’t a tool that solved this problem up until Mira launched this past October. Backed by investors including Unilever Ventures, e.ventures, Founders Fund, 14W, Great Oaks Venture Capital, and more- Mira aggregates reviews on products from all corners of the internet so all the most reliable reviews can be found in the same space while aiming to create community where users have a safe space to ask and answer questions in a nonjudgmental, supportive environment.
In addition to aggregating reviews from all corners of the internet, and providing synopses and click-throughs to seamlessly purchase products, Mira serves as a community for eager beauty consumers to ask and answer questions in a non-judgmental, supportive atmosphere. The app leverages the power of facial recognition and AI to match beauty consumers with products perfect for their face shape, skin tone + type, price range, and more.
Mira aggregates reviews from all over the web making it easier for consumers to find products they … [+]
The founders Jay Hack and Brandon Garcia noticed a lack of lack of diversity in the beauty space, and offering a platform for discovery, community, and the celebration of beauty in all forms. “While traditional social platforms are fantastic for inspiration and visual imagery, we designed Mira first and foremost with the beauty enthusiast in mind, with features specifically geared towards product research and discovery. Mira organizes all of the world’s products and reviews into one place – you can search and filter by product type, skin tone, skin type, and many more preferences. The result is personalized product recommendations from the world’s biggest beauty catalogue and the ability to price compare before you buy,” explained Hack and Garcia.
Mira hopes to not only make it easier for consumers to find products they love, they hope to close the gap between brands and the consumer. “The way beauty has traditionally operated online is unfortunately very transactional – brands appear side-by-side without much opportunity to tell their story and connect directly with their consumer base. We see a massive opportunity in providing spaces for brands to authentically tell their story and directly engage with consumers who are the best fit for their offerings. Furthermore, in providing brands with insights about their current and future customers, we help them better serve their particular consumer segment’s most pressing wants and needs. Stay tuned for more exciting news on this front in 2020!” exclaimed Hack and Garcia.
Since launching a month and a half ago, here are some top insights Mira has seen according to Hack and Garcia. “The average question gets 6 responses, almost 50% of all responses contain product recommendations, almost 20% of users are active in the community with either asking/answering questions or creating product reviews and there have been nearly 200k products saved/collected on the platform since launch. Every additional interaction with a product makes our algorithms stronger.”