Editor's note: This article originally ran in the November 2011 issue of GCI magazine as “New Strategic Challenges for Fragrance.” All rights reserved.
The fragrance market rebounded quite strongly from the 2008 global financial crisis, fuelled by upbeat demand in emerging markets—notably Brazil and Russia. But as consumers brace themselves for the prospect of a double-dip global recession and as discretionary spending gets squeezed by rising food prices—even in fast-growing emerging markets such as China—points of differentiation between products will become more important if companies are to protect their bottom lines.
What lessons can be drawn from the post-Lehman Brothers era, and how is the strategic playing field for fragrances likely to evolve in the event of a new, potentially more acute global economic slowdown?
