Perfume Industry Trends

Goals

Determine the major trends in the U.S. perfume industry.

Early Findings

Perfume Industry Trends

  • Based on a market report, the boom in the U.S.' macroeconomic landscape in the last five years has driven shoppers to buy more perfume and fragrance goods.
  • However, the COVID-19 outbreak this year dampened the perfume sector as these products are being sold in stores that are classified as non-essential businesses.
  • In general, the growth in the global perfume industry was due to the rising trend of personal grooming and the growing demand for luxurious and unique scents.
  • The growth of the market can also be attributed to the increasing demand for "on-the-go, natural, and value-added" perfume products.

Summary Of Our Early Findings Relevant To The Goals

Our one hour of research provided some of the perfume industry trends that are driving the growth of the market.

Proposed next steps:

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We propose to continue with the research to provide 2-3 additional future trends in the U.S. perfume industry. This could include predicted disrupters, innovations, format changes, consumer behaviors, or any other trends which may greatly affect the industry in the coming years. For each trend, we will describe the trend, defend why it's considered an expected trend, and provide 1-2 examples of industry experts or thought leaders discussing the predicted trend.
We also recommend undertaking additional research to provide 5 of the top manufacturers of perfume in the U.S. based on revenue or other available metrics. For each company, we will provide the name, website, why it is a top player, and its value proposition. We also propose continuing with the research to provide a full competitive analysis of these identified major players. For each player, we will provide a 3-4 sentence overview, high-level list of perfume offerings, competitive advantage, and target market.