The American Fragrance industry is one of the largest retail markets, with over 3.6 Billion dollars in revenue as of early 2020. This booming industry is providing consumers all over the United States (and the entire world) with daily use products such as perfumes and aftershaves, ranging in price and quality from department store fragrances to high-end couture brands.
Heading into the second half of 2020, it is time to use Revuze’s AI to go over and analyze over 630,000 online reviews collected from the perfume industry. Here we will review trends witnessed in the fragrance market for H1 of 2020, from which ingredients all the way to what scents are most predominant.
As we look forward to H2 2020, what are the rising trends?
In the first half of 2020, we detected a rise of interest in sweet and fruity smells, which surged as the world turned into lockdown. As people adapted to the “shelter in place” new normal, they sought sweeter scents reminding them of the smell of a garden or park.
Let’s dive into the numbers, shall we?
“Woody scents” like oak and cedar saw a 26% increase in their share of voice to 0.33% in 2020 compared to 0.26% in 2019.
On that same note, all fruity scents share of voice grew by 16%. For example, scents with a dramatic increase in voice share were (compared to last year):
- Mandarine increased by 140%
- Peach by 120%
- Iris by 190%
- Vanilla by 133%
- Cherry by 148%
Credit: www.revuze.it
On the other hand, we identified a decline in herbal and citrus smells:
- Lavender by 38%
- Mint by 28%
- Jasmine by 31%
- Orange by 53%
And what about sustainability?
This trending topic is a result of a more substantial discussion volume about natural ingredients like essential oils, which shows a 13% increase year over year (YOY).
Consuming sustainable perfumery products and using natural and organic formulations are the basis for cosmetic innovation. The discussion volume towards these topics has been on steady growth over the past couple of years:
- 75% YOY growth in 2018
- 37% YOY growth in 2019
- 60% YOY growth in 2020
These are only some findings our AI extracted, and they are expected to hold for the coming year. However, as the year progresses and countries are getting out of lockdown, we might see new trends develop and some others that will appear.
Continuously collecting and analyzing customer feedback data will allow you to identify and understand market trends and consumer behaviors. Using AI to do so provides you with current, efficient and effective information, keeping you up to date and well informed to make data-driven decisions.
