Hot Off The Press
HOT OFF THE PRESS 2020
On Tuesday 4th of February 2020 The Fragrance Foundation were thrilled to host our first event of 2020 at the Ham Yard Hotel London; Hot off the Press - a Fragrance Foundation UK Breakfast Briefing providing insight into trends and opportunities within the Fragrance Market, covering sales, press & online marketing.
Linda Key Jackson, CEO of The Fragrance Foundation UK welcomed the 113 industry guests who attended this year.
From the 5 insightful presentations we are thrilled to share some key messages with you…
Evening Standard Life 2.0:
- - 63% of consumers want brands to be a part of their life achievements
- - With the consumers behaviour changing the expectations on brands has shifted, in the busy urban landscape individuals are willing to invest in products that optimise their time
- - The idea of the product as a souvenir of the experience
- - These ‘Optimisers’ are open to advertising looking for the latest thing to see and do. Indexing at 184 for feeling inspired by some advertising and 175 for looking out for brands that will make their lives easier
- - ‘Optimisers’ are 53% more likely to buy premium fragrance
- - The search for ‘plastic free’ and ‘eco-friendly’ has gone up by 153% in the personal care category
- - 47% of UK soap, bath and shower consumers would be interested in using a refillable alternative to reduce their environmental impact
- - Half of Brits think fragrance has too much unnecessary packaging
- - By 2022 video will account for 82% of online traffic
- - 3 in 4 luxury purchases are influenced by digital
My Market Insight:
- - Fragrance mentions in the media is up by 6%
- - The top mentioned product in Print and on Social was Lancome Idole EDP
- - Q4 is accountable for 95% of the fragrance industry’s growth
- - Jo Malone London achieved the most organic Earnt Media Value
- - The pop-up with the highest presence was the Lancome La Vie Est Belle Eiffel Tower
- - Over the three weeks surrounding Black Friday consumers spent £34m on fragrance
- - 55% of fragrances are sold on promotion
- - The sale of premium fragrances is up by 7%
- - Ecommerce sales are up by 14% whilst bricks and mortar are down by 5%
- - New launches are up by 66% for men
- - If people can’t try the fragrances that they see online then we should be associating the product with the attributes they want to associate themselves with.
- - 40% of people use an ad blocker
- - 22% of shopping has moved online
- - Use machine learning such as AI to understand which personality factors are predictors of which fragrances a person will like, so that you can make recommendations.
Closing the morning presentations Linda Key Jackson, CEO of The Fragrance Foundation, thanked the guests with particular thanks to the presenters who generously provided their expertise.