Celebrity fragrances have limited shelf life, by Euromonitor International
The stellar performance of celebrity scents looks set to come to an end, as the market becomes over-saturated with new products, according to a new report from Euromonitor International, “The World Market for Cosmetics and Toiletries”. This is forcing global perfume manufacturers to re-think their future strategies as celebrity perfume sales are forecast to suffer.
Sales fall as star performance begins to fade The celebrity fragrance market, which has witnessed a vast influx of products over the past few years, such as Coty's Darling by Kylie Minogue and Parlux Fragrances' Paris Hilton, is bracing itself for a backlash. In the US, where celebrity perfumes have previously driven sales growth, mass fragrance sales are predicted to decline by 25% by 2010 as the celebrity trend weakens.
The problem, according to Euromonitor International's report "The World Market for Cosmetics and Toiletries", is that the celebrity fragrance market has become over-saturated by the large number of products that have inundated the market. This will lead to problems for global players, particularly as the ranges are being continuously revamped to keep up with the image of the celebrity. The J Lo fragrance collection alone for example, has seen 6 new products launches since the original launch of Glow in 2002.
Diana Dodson, Senior Industry Analyst at Euromonitor International comments, “With so many new releases, manufacturers are running the risk that consumers will become increasingly confused and frustrated by the never-ending choice”.
Future outlook: Quality products replace star quality The future of the global fragrance market looks set to focus on quality products according to Euromonitor International's forecasts. With the global market for premium fragrances generating US$ 18.7billion, an impressive 60% share of the total market, quality is clearly in demand. Manufacturers are expected to respond by taking longer over new product development, and as such the industry will become less driven by fast-turnover innovations characterised by the celebrity trend.
Euromonitor's Diana Dodson explains further, “The fragrances market has strong potential for growth if manufacturers can find ways to pull customers towards 'quality', rather than selling on image alone. As part of this move towards premium products, ingredients will play a more central role. Jo Malone's Pomegranate Noir has taken the first step in this direction, riding on the wave of popularity of the purple superfruit”.
Manufacturers are also expected to bolster sales by employing marketing strategies that persuade women to apply their fragrances more frequently throughout the day, supported by the introduction of more portable fragrance formats, such as roller-balls. Coty has responded already to this by launching the Lovely by Sarah Jessica Parker Liquid Satin Serum Rollerball fragrance.
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