Kline has highlighted five trends to watch in home fragrances in 2023 in its upcoming Home Fragrances: U.S Market Brief to be published in the second quarter of the year.
With an uncertain economy and inflation, consumer demand is expected to slow down. In 2022, there was a decline of nearly 3% in mass retail sales.
Therefore, marketers need to adapt and modify their strategies and product offerings.
Top Trends in 2023
1. Collaborations
Brands who collaborate with entities outside of their space are said to bolster visibility.
2. Wellness Collections
Consumers are continuously looking to de-stress and "turn their home into "safe oases."
3. Expansion into Tech
Brands are continuing to expand into the active diffuser segment, either through launches of their own devices or partnerships with active diffuser.
4. Natural Scents
Luxury brands are meeting the demand of consumers shifting their scent preferences to fragrance options that evoke a more natural scent.
5. Smaller Formats
Marketers have looked to launch smaller-sized candles as a way of giving consumers a more accessible price point in light of the struggling economy.
Price-sensitive consumers need products that will bring them back into the category after inflation concerns.
