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Sniffing Out Trends
By: Jeff Falk
Posted: September 5, 2007
page 2 of 4“Fragrance is a part of how consumers see themselves, how they live, how they feel about the world around them, and even the colors they like,” said Cynthia Reichard, executive vice president, Arylessence, in a press release to introduce the new TrendWatch. “Fragrance is the first sensory attribute experienced when consumers explore new products.”
Arylessence monitors market trends in all consumer product goods categories, including food and beverage, industrial and institutional sectors, on a daily basis. The company views the gathering of market intelligence and trend analysis as critical to its product development.
“At Arylessence, market intelligence provides strategic direction for product development. It does not impede the creative process that is so critical in creating winning products, it enhances and supports it,” said Lori Miller Burns, director of marketing, Arylessence. “The competitive landscape in every category of products we service is tremendously large and challenging, and the more challenging it is, the more important market intelligence becomes. Product developers do not have the luxury of missing the mark with consumers. Merchandising space is limited and retail buyers must have successful products on their shelves.”
According to the report, three lifestyles—exotica, health and well-being, and luxury living—are driving fragrance inspirations for new products and brand expansion concepts through 2008. The exotica lifestyle, which reflects global influences, includes the use of exotic botanicals for beauty, home decor and household products. Scents highlighting the health and well-being lifestyle reflect restful, restorative and uplifting environments and complement consumer desires for soft, calming colors. The luxury living lifestyle connotes soft, jewel-toned colors and rich, spice-infused fragrances. In all, the report highlights 13 trends, as part of three overall lifestyle trends, driving consumer behaviors in lifestyle, attitude, color and fragrance selection.
Through the report, which covers an 18–24 month span, an astute marketer should be able to capitalize on what is already driving consumers or find gaps to fill within lifestyle trend positions. In addition, a step-by-step, strategic approach to addressing all attributes of the product will achieve the highest level of appeal to the target audience. New consumer trends are added as they come to light and declining trends are removed.