2016 was another flat year for the Fragrance Industry.
Despite an avalanche of launches and extended periods of discounting, the sector failed to achieve substantial growth.
The clues lie with consumers who are not engaging with fragrance in the ways that brands and retailers think they are.
The Fragrance Report 2017
In the Fragrance Report 2017 we’ll be looking at the industry from every angle including what’s hot, what’s not and an analysis of why the sector is stagnating:
Our research suggests that:
- Discounting helps maintain the status quo only.
- The retail experience is failing consumers.
- Rather than empowering purchase, the slew of launches is causing overwhelm.
- Celebrity fragrances have lost their glamour.
- Consumers are disengaging from advertising.
You’ll also discover:
- Major premium fragrance trends.
- Analysis on important industry activity from mergers and acquisitions to launches.
- The ingredients making an impact.
- The global trends to watch.
- The niche brands making big waves.
Exclusive Consumer Research
In addition, we’ve got the results of our consumer research to share. It’s brand new and exclusive to the Fragrance Report 2017.
Once again, we surveyed 100s of women of all ages and from all walks of life.
We get their attitudes on fragrance and get their perspective on what will inspire purchase.
Strategies for Future Growth
The fragrance industry faces a long-term decline unless the following issues are addressed: too frequent launches, lack of support for long-established brands, disregard for consumer needs and wants, and ill-conceived discounting.
However, despite these failings, the sector is changing and evolving with much to be commended.
Our research has highlighted a number of emerging trends that offer massive opportunities for growth that remain as yet untapped.
- Genderless/Shared: Despite growth of this sector, retailers have yet to embrace this trend. Until they do, its huge revenue potential will go untapped.
- Niche: Artisan brands have a massive opportunity to break into the mainstream but first need to break from convention.
- Scent: It’s the heart and soul of every fragrance. It’s also the key purchase driver and yet its potential remains untapped by brands and marketers.
- Women Over 45: The demographic most likely to experiment and yet sadly overlooked by brands and their marketers.
- By focusing on these four growth areas, fragrance businesses should be able to reduce their dependence on the transient Christmas period and build a strong year-round business.
However, they require a fresh way of thinking and, in some cases, a rejection of the status quo that has hampered growth for too long.
In the report, we investigate each of these trends and identify how they can help the fragrance industry turn the corner and move back into growth.
Click here to purchase the report.