Fragrance brands deliver on bespoke, made-to-order products
Implications - Consumer expectations are shifting towards a bespoke model with made-to-order features now available at the touch of a button. Fragrance brands are tapping into this shopping niche with hyper-personalized scents and services. Through the pairing of goods with individual elements, greater power is ultimately given to the end user, a feature that is appreciated in today's crowded markets.
Workshop Question - How can you curate a selection of your offerings to eliminate analysis paralysis for your consumers?
Trend Themes
1. Hyper-personalized Fragrances - Fragrance brands are offering personalized, bespoke scents and services that cater to individual consumer preferences and needs.
2. Personality-based Fragrances - Fragrance companies are creating scents that appeal to specific personality types by providing interactive quizzes to identify the consumer's compatibility.
3. Custom Perfume Workshops - Fragrance companies are creating custom perfume workshops that provide a hands-on experience and allow individuals to personalize their own scents.
Industry Implications
1. Beauty Industry - The rise of hyper-personalized fragrances and personality-based perfumes provides opportunities for beauty brands to create unique, customized products that cater to individual customer preferences.
2. Retail Industry - The increase in popularity of hyper-personalized fragrances and customized perfume workshops provides a boost to brick-and-mortar retail stores, offering consumers an experiential journey to find their perfect scent.
3. Subscription Service Industry - The personalized scent subscription service is a disruptive innovation opportunity for the subscription service industry to cater to individual needs and reduce the inconveniences of the conventional buying experience.
