Pantone is basically the industry (and "industry" here means color in general, not just makeup) standard for color, so they are important for on-trend color (towels, paint, kitchen utensils, storage bins, makeup -- Radiant Orchid is one specific shade that *if used correctly* is exactly the same shade *everywhere*) and (here's the big thing) shade consistency. You can say "TARDIS blue," and there will be many different variations of it, but then you say "Pantone 2955C" (the official BBC shade for TARDIS blue), and there is *one* shade. If they say something is the color of the year, you can coordinate colors more readily because everyone will be putting out things in that color or things that will coordinate with it. I got excited over Emerald last year because I love green, and I'm thrilled with Radiant Orchid because it will look fantastic with all of the Emerald I picked up last year.