The graph above shows some of the keys player in the beauty industry.
According to mintel:
The UK fragrance market slowed in terms of growth in 2012 to £1.42 billion whilst further growth is
predicted through 2013 of 3.4% to £1.47 billion. The prestige sector continues to drive value sales
(82% vs 18% for mass) as consumers continue to buy into inexpensive luxuries during times of
economic hardship. However, growth has slowed in comparison with previous years as consumers look
to take advantage of more discount deals and loyalty schemes.
The market remains focussed on women’s fragrances, which account for the majority of value sales, although men’s products are beginning to pick up the pace with growth of 4.5% estimated for 2013 thanks to a host of high profile fragrances for men in recent years.
Usage remains high for all adults at 91%, but shoppers remain relatively uneducated on fragrances and strong opportunities for growth await the retailers or brands that can successfully increase consumer knowledge about fragrances. The wide selection of scents and strengths available prove as much of a hindrance as a help to today’s consumer, whilst the young orientation of advertising further alienates older fragrance users. Launches largely rely on branding and celebrity to attract interest, although scents are also becoming increasingly more unusual to create a point of differentiation. New introductions include fragrances based on the smell of books, the ballet and even the internet.
The market remains focussed on women’s fragrances, which account for the majority of value sales, although men’s products are beginning to pick up the pace with growth of 4.5% estimated for 2013 thanks to a host of high profile fragrances for men in recent years.
Usage remains high for all adults at 91%, but shoppers remain relatively uneducated on fragrances and strong opportunities for growth await the retailers or brands that can successfully increase consumer knowledge about fragrances. The wide selection of scents and strengths available prove as much of a hindrance as a help to today’s consumer, whilst the young orientation of advertising further alienates older fragrance users. Launches largely rely on branding and celebrity to attract interest, although scents are also becoming increasingly more unusual to create a point of differentiation. New introductions include fragrances based on the smell of books, the ballet and even the internet.
Certain issues for consumers include:
-allergen regulations- allergens and chemical ingredients continue to hold consumer attention.
-consumers demand longer-lasting products
-The threat of savvy shopping spawns a price vs experience battle-Beauty spend remains strong but consumers save money online
-There is a strong interest in refillable products
-Environmentally friendly packaging remains prominent
-Evocative and collectable, collectable fragrance bottles
-More smaller size versions of fragrances- handbag-sized products appeal to women.
- Women most likely to be occasion wearers
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