You've read so many times that the beauty industry is recession proof and that women will always find a way to purchase something that makes them smell good and add a little color to their face. As true as this may be, it doesn't mean that the beauty industry doesn't have its challenges during a recession.
According to global research provider Mintel, the fragrance industry took a hit during the recession but is steadily making a comeback. It seems as though you're loosening your purse strings and treating yourself to perfumes and fragrances once again.
What's got you ready to buy, Perfume or Packaging?
What's got you ready to buy? Is it the product itself, the packaging or a combination of the two? Not only does the perfume have to satisfy you but the packaging is just as important. Sophistication in packaging and scent are like finding synergy in a marriage. You've found the perfect scent blend but you don't like the bottle it comes in. Glass and metal or glass and plastic, which combination will capture you emotionally and present you with timeless elegance in your choice?
In the Premium or High End of the market perfume makers pull out all the arsenal. You'll see custom designed bottles and packaging. Everything from faceted heart shaped bottles for SGD that was produced for Elizabeth Arden to a clear glass bottle with red and blue sides and a black and white stripe tube and cap produced for Balenciaga's Florabotanica.
In the Mass Segment or Not So High End market, companies continue to turn to stock bottles and use creatively designed boxes. Mass segment is also using unrelated products and containers to capture attention to their product line. Flasks, soda bottles and car tires are a few of the containers and material used for pop culture items. These elaborately designed plastic, rubber and metal elements are used to give some added pizazz to stock bottles.
Looking Ahead ...
It seems as though there's healthy growth ahead for the fragrance industry. Although highly competitive and already saturated, the market is expecting positive sales growth. Let's hope this is a sign of things to come for the economy in general.
Life Never Smelled So Sweet!