Which Mega-Trends are Influencing the Development of Fragrances?
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Mega-Trends Influencing the Development of Fragrances Report Overview
GlobalData’s TrendSights framework contains eight mega-trends that impact and influence consumer behavior. Of these four prominent trends for fragrance development is discussed in the report that are having particular influence on consumer motivation to try new fragrances. Consumers’ motivation to try new fragrances can be attributed to larger, overarching trends in consumer behavior. For example, curiosity, the largest motivator for consumers, is ultimately driven by consumer desire for experimentation and therefore sits under the sensory & indulgence mega-trend. On the other hand, influences and promotions that make consumers feel like they are taking less of a risk around trying a new fragrance are grouped under comfort & uncertainty.
Fragrance Development Mega-Trends
The key trends for fragrance development are sensory & indulgence, comfort & uncertainty, digitalization, and sustainability & ethics.
Sensory & Indulgence: Curiosity is the largest motivation for consumers when trying a new fragrance. Gen X and Boomers believe that curiosity is a motivator for them because they have more purchase history with different products and are looking for something engaging.
Comfort & Uncertainty: Recommendations and familiarity as well as promotional mechanics such as sampling and introductory offers all help reduce the perception of risk that consumers may have in trying a new fragrance.
Digitalization: Advertisements and media are key motivators in trying new fragrances. Reviews and awards are also heavily linked to the peer-review behavior that is now widely expected and communicated online. However, the most interesting application of the digitalization mega-trend for fragrances in the future will be the use of artificial intelligence (AI) in creating products.
Sustainability & Ethics: Consumers are used to associating ‘natural’ and ‘plant-based’ with healthier and more sustainable solutions as the focus on the associated dietary trends, such as veganism, has become more mainstream in recent years. However, new developments in AI technology can help reduce the need for the intensive growing of plants for fragrance purposes and therefore may provide more sustainable solutions on some levels in the future.
Consumer Motivations to Try New Fragrances
For more insights into the consumers’ motivations to try new fragrances, download a free report sample
Scope
• Brands must leverage consumer’s curiosity
• Financial adversity is making consumers more risk adverse and could therefore pose a threat to the trial of new fragrances
• Digitalization is encouraging new engagement and fragrance development
• Consumers tend to equate natural with sustainable
Key Highlights
- Brands must leverage consumer’s curiosity
- Financial adversity is making consumers more risk-averse and could therefore pose a threat to the trial of new fragrances
- Digitalization is encouraging new engagement and fragrance development
- Consumers tend to equate natural with sustainable
Reasons to Buy
• Understand multiple trends and company Reponses in order to tap into what is really impacting the industry.
• Gain a broader appreciation of the fast-moving consumer goods industry by gaining insights from both within and outside of your sector.
• Access valuable strategic take-outs to help direct future decision-making and inform new product development.
Symrise
Sephora
Unilever
Yankee Candle Company
Table of Contents
Frequently asked questions
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What are the key trends for fragrance development?
The key trends for fragrance development are sensory & indulgence, comfort & uncertainty, digitalization, and sustainability & ethics.
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What will be the most interesting application of the digitalization mega-trend for fragrances in the future?
The most interesting application of the digitalization mega-trend for fragrances in the future will be the use of artificial intelligence (AI) in creating products.
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What factors will help in reducing the perception of risk that consumers may have while trying a new fragrance?
Recommendations and familiarity as well as promotional mechanics such as sampling and introductory offers will help in reducing the perception of risk that consumers may have in trying a new fragrance.
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Why is curiosity one of the biggest motivators for Gen X and Boomers?
Gen X and boomers believe that curiosity is a motivator for them because they have more purchase history with different products and are looking for something engaging.
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