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1、The Future of Fragrance:2024Competition in local vs international brands will see NPD take multisensorial experiences to the next level.NPD can promote cultural heritage and a feel-good factor.Clotilde DrapGlobal Beauty AnalystRead on Table Of ContentsWHAT YOU NEED TO KNOWIN THE NEXT TWO YEARSIN FIV

2、E YEARS AND BEYONDKEY TAKEAWAYS1234Read on WHAT YOU NEED TO KNOWCapitalise on the perfume index to drive growthAppetite for fragrances is strong thanks to the categorys positioning as an affordable luxury.However,the growing popularity of dupe culture will challenge premium brands.Premium brands wil

3、l have to find creative solutions to compete against cheaper alternatives.Drive sustainability beyond packagingEthical and environmental claims are the second biggest claim in fragrance innovation;however,theres space to go beyond packaging and focus on local ingredient sourcing.Link scent to emotio

4、ns to help alleviate stress in consumers livesConsumers are actively seeking ways to reduce stress,and there has been a rise in fragrance innovation with functional claims.With 78%of UK consumers who think fragrances can improve mental wellbeing,fragrances have opportunities to promote their mood-bo

5、osting merits.Read on Where we are nowRethink the luxury fragrance experienceCreate accessible luxury for those on lower budgets using creative entry-level formats and elevated experiences.Create excitement around luxury launches by blending physical and online retail.Revisit heritage brands with a

6、modern twist to appeal to consumer nostalgia.Go beyond conventional scent notesIntroduce consumers to elements of local culture to boost the appeal of international brands.Showcase a fragrances local heritage to convince consumers to trade up.Collaborate with other industries to create multisensory