According to Qingyan intelligence data, from 2017 to 2022, the scale of China's fragrance market has increased from 6.3 billion yuan to 16.1 billion yuan, and it is expected that in 2024, the size of the fragrance market is expected to reach 25 billion yuan. It can be seen that the growth of China's fragrance market shows great potential, and the majority of consumers are increasingly accepting fragrance products.
1. The rapid growth of China's fragrance market.
In recent years, consumers' consumption concept of fragrance products has gradually changed, consumer demand has become more and more diversified with the maturity of the consumer market, and the olfactory aesthetics expressed by "pleasing oneself" with the help of perfume are also constantly upgrading. According to the 2023 China Perfume Industry Research***, with the increase in the number of "perfume wearable" scenes when going out, and driven by the concept of "pleasing oneself", Chinese consumers' perfume involvement and category consumption have increased compared with before the full liberalization. At the same time, Chinese perfume consumers continue to be differentiated: they have formed differences in perfume mentality, use preferences, purchase considerations, etc., but they have reached a consensus on the need to "express pleasure" with the help of perfume, and perfume consumers will bind fragrance to the mood style of the scene to achieve different degrees of self-expression. In this year, we have seen that in addition to the traditional floral and fruity notes, more and more consumers have begun to pursue personalized and characteristic fragrance products, such as woody notes, fresh green notes, etc., whether it is the need for personal image at work, or out of personal sensitivity and preference for the sense of smell, fragrance products have no longer only as daily necessities, but have become an important "label" to show personality. This is not only the empowerment of fragrance products for our lives, but also the superposition of brand value in life.
At the same time, with the gradual expansion and sinking of the fragrance market, the trend of segmentation has also begun to appear, and the perfume track has become more diversified and rich. Different brands are striving to compete for market share through product innovation, marketing strategies, channel expansion and other means, which intensifies the competition under the segmentation track, and also outlines a more expected blueprint for the future of the fragrance market. On the basis of traditional physical channels such as physical stores, department stores, and specialty stores, with the rapid development of e-commerce, online channels have also become one of the important sales channels in China's fragrance market.
In 2023, after full liberalization, China's macro economy is slowly recovering. China's perfume market is also experiencing dynamic and diversified possibilities: international commercial fragrance brands still occupy the mainstream of the market, and consumer demand for international salon fragrance brands is increasingChina's local brand market is active, and some high-end brands are also showing a trend of refined positioning.
2. International big-name commercial incense: accelerate the expansion of the layout and maintain the stability of the mainstream.
At present, China's perfume industry is facing the upgrading of consumer demand and changes in market trends, and opportunities and challenges are emerging. How to break out of the encirclement is a common problem for most perfumes, and it is also a difficult problem for most consumer products. In terms of influence, commercial fragrance brands that entered the Chinese fragrance market earlier have a greater advantage, but how to transform the timing advantage of entering the market into an actual brand advantage is a problem that every advanced commercial fragrance brand needs to think about. The market activity of Chinese perfume brands has picked up, some high-end brands have entered a period of precipitation and stability, and at the same time, China's fragrance market is facing the sudden emergence of niche fragrances, so commercial fragrances urgently need to find a second growth curve.
As an omni-channel brand management group, Yingtong Group has always been continuously optimizing and upgrading its brand strategy, increasing its layout in the offline market, and focusing on consumer scenario-based experience to drive growth through new marketing and cross-category support of star products. In this way, we will help commercial fragrance brands continue to renew their core and strive to meet the needs of Chinese consumers for high-quality fragrance products.
1.The commercial incense brand has been renewed and burst out with new vitality again.
Taking the big-name commercial Versace as an example, with the help of Yingtong, it actively promoted the renewal and optimization of its brand image, redefined itself through innovative design concepts and unique market positioning, and combined with online and offline multi-channel promotion, it has won the favor of more Chinese consumers.
In January this year, Versace officially announced the global perfume spokesperson, and achieved brand renewal through a new visual KV. With the help of the star economy, Versace's classic products of the same name men's perfume and diamond women's perfume,** and JD.com's sales increased by 34% year-on-year, continuing to achieve performance breakthroughsIn March, the brand launched the new Zhenhua Haute Couture series, using Xiaohongshu to promote grass planting activities, which received millions of times**, and the search volume of Versace Zhenhua Haute Couture series Mediterranean figs increased by nearly 30 timesIn May, Versace opened its first haute couture fragrance store on the 1st floor of Lingnan Railway Station in Foshan, Guangzhou, attracting a large number of consumers with a new omni-channel concept and rich content, showcasing a new brand image that focuses on romance, individuality, freshness and freedom, and narrowing the distance between the brand and consumersFrom June to August, combined with the mentality of Qixi gift-giving, we once again planted online topics for products, cooperated with offline store visits, exposed the core offline image counters in Shanghai, Beijing and Guangdong, and drained the offline purchase channels of Versace's high-end series, and guided consumers to go offline to try incense through the store's new member activity mechanism. In the fourth quarter, Versace Perfume carried out word-of-mouth planting around core products in the pre-stage of Double 11 on the core content planting platform, and carried out three-dimensional content communication for autumn and winter product demand opportunities, fragrance picture perception experience differentiation, product value communication, etc., and the search data of the content platform increased by 72% month-on-month in October. In the fierce battle of Double 11, Versace Versace has created a number of core products to dominate the list, Versace Men's Eau de Toilette ranked TOP7 on the Tmall list of men's perfumes, and Versace Women's Eau de Toilette was ranked TOP16 on the Tmall list of imported perfumes, and the commercial outbreak is becoming more and more obvious.
Versace's first independent image store of high-end fragrance in China - Lingnan Station, Foshan, Guangdong.
2.Continue to plant grass throughout the year to build users' purchasing minds.
Taking the Montblanc brand as an example, with the help of Yingtong Group, it has created diversified grass planting scenes and content by promoting continuous grass planting activities throughout the year, continuously stimulating consumers' desire to buy and increasing sales.
The annual focus of Montblanc brand marketing is to help Montblanc Quest Traveler Male Fragrance become a new hit product of the brand, and after continuing to increase the volume of Montblanc Quest Traveler's products on the social ** platform, it will gradually use social platforms to expand the influence of its products in the perfume market on the basis of its existing product strength. Through the sharing of various bloggers, we can accurately reach the core users of perfume and holiday gift groups, and have an in-depth understanding of the fragrance category of the Montblanc brand. During the launch period, the keyword search popularity of "Montblanc Explorer" increased by an average of 63 compared with the previous week5%, continue to strengthen the user's purchase mentality, and further expand the product voice.
Montblanc collaborated with kol@florakihi to plant sketches.
3.Set up brand image counters and pop-ups to shorten the distance with consumers.
Opening brand image counters and pop-up stores can quickly open up consumers' awareness of the brand, shorten the distance with consumers, and improve sales performance. This year, the big-name commercial fragrance brands Hermes and Versace have launched a number of limited-time flash mob activities in Shanghai, Beijing, Chengdu, Zhengzhou, Wuhan, Sanya and other cities under the deepening of Yingtong Group's department store and shopping center channels.
Hermes Garden Collection Fragrance Pop-up - Shenzhen MixC Station.
The first stop of the Hermes Dream Garden Fragrance Exhibition in Shenzhen MixC and Chengdu Qunguang Station used fragrance to build a Hermes light and shadow journey and achieve a jump in the sales of beauty brands in shopping mallsVersace also brought surprises - the new Sunset Dream Women's Perfume made its debut in Shanghai Ganghui Henglong, combined with online and offline simultaneous promotion, the sales performance of the new product in Shanghai Ganghui Henglong pop-up store in 7 days broke the record of a single perfume brand in the mall. During the Mid-Autumn Festival and National Day, the MixC in Chengdu and the Imperial City of Shenyang Henglong were held to display products in an all-round way, bringing a bright and elegant island atmosphere, making people feel like they are in a never-ending summer journey and creating a good memory for consumers.
It can be seen that the international brand fragrance has achieved remarkable success through refined brand marketing and continuous innovation strategy. In the ever-changing Chinese market, brands have been keen to capture changes in consumer demand and have taken appropriate measures to adapt and innovate accordingly, successfully taking the momentum one step further, staying ahead of the curve and bringing more surprising fragrance experiences to consumers.
3. International niche salon incense: amplify product power and go two-way with consumers to seize the market.
For niche salon fragrance brands that entered the Chinese market late, what strategy to adopt to increase their visibility and influence in the Chinese market is also a difficult problem to be solved.
Chinese consumers will always spare no effort to "learn" in the face of their favorite things, and they are very friendly to new brands entering the market. In the face of a niche salon fragrance with limited recognition, it will stimulate the enthusiasm of the best, which is of great positive significance for the promotion of the market. In this positive atmosphere, Yingtong Group has achieved two-way travel with consumers through in-depth understanding of consumer needs, accurate products and market positioning, and helped niche salon incense to win more market share.
1.Introducing the new product of the year: bringing new surprises to consumers.
Consumers are often curious and eager to explore fresh, unique products, and they want to be able to try new experiences and feelings. With the idea of satisfying consumers' demand for "new" while increasing brand activity and visibility, most niche fragrance brands launch new products almost every year.
Santa Maria Maria Novella (SMN), a legendary Italian brand with an 800-year-old history On October 13th, the new Medici Garden collection officially came to China, inspired by the rare plants in more than a dozen villa gardens built by the Medici family in the 15th and 17th centuries and listed as a UNESCO cultural heritage in 2013.
As the exclusive partner of the SMN brand in China, Yingtong Group specially invited Mr. Gian Luca Perris, CEO of the brand, to attend the event in person, and gathered with fashion**, senior perfume lovers and channel partners to jointly ** the legendary garden of the Medici family.
The launch of SMN's new Medici Garden collection.
In the same month, French luxury niche perfume brand Parfums de Marly also officially launched its new annual creation, Valaya. At the scene of the new product launch event, the classic elements of VALAYA cloud and soft language were uniquely integrated with the French garden, creating an ethereal and dreamy graceful environment, and feeling the unusual French romantic elegance. This new product not only meets the expectations of existing users of the brand for new products, but also arouses the attention of new users to the brand, becomes a bridge connecting new and old users and the brand, and enhances the brand image and user stickiness.
Mary no Fragrance Parfums de Marly The release of Valaya's new work of the year.
Lalique, another French niche fragrance brand, also unveiled its new 2023 crystal fragrance of the year, Empreinte Animale, in November at the Villa Barsei, the official residence of the French Consul General in Shanghai. The fragrance pays homage to one of the oldest creatures on Earth, the crocodile, and features a unique bottle in the Art Deco style: the bottle is set with a faceted gemstone of Amazonian green, and the overall design is bold and captivating;The signature crocodile nail texture is moulded onto the satin bottle, while the miniature cutting of the scales and the crystal-embossed technique bring the piece to life. This exquisite and ingenious fragrance treasure is full of three-dimensionality and realism, blending wildness and elegance to sparkle in a dazzling way.
Mr. Wang Du, Consul General of France in Shanghai, Mr. Sha Wei, Commercial Consul of the Business and Investment Office, Mr. Roger von der Weid, CEO of Lalique, Mr. D**id Rios, COO, Mr. Thomas Leutenegger, Director of Sales and Export, Ms. Lin Jing, Senior Vice President of Yingtong Group, and Ms. Wang Wei, Chief Operating Officer of Yingtong Group, attended the event. The scene also presented the new products of Lalique's classic perfume series, ink love series and Muri series. In addition, more than a dozen Lalique annual limited edition crystal fragrances were unveiled, showcasing the brand's timeless craftsmanship and aesthetic inspiration, which were loved by collectors around the world.
Lalique new fragrance launch event.
2.Create keywords and scene integration to capture potential consumers.
In the face of market challenges, niche salon fragrance brands also pay more attention to making products enter consumers, and strive to awaken the purchase enthusiasm of more potential consumers. In order to achieve this goal, the brand pays attention to exploring the uniqueness of the product, attracting consumers through intentional and easy-to-remember product naming, and creating better conditions for socialized grass planting. Taking Van Cleef & Arpels (hereinafter referred to as VCA), a salon fragrance brand, as an example, when promoting its new collection of new products "Moonlight Patchouli" Fragrance Limited Edition, it cooperated with the Xiaohongshu platform to consolidate the recognition of the new products of the VCA brand, continue to create the brand's core products, and drive the keyword "Van Cleef & Arpels Moonlight Patchouli" to increase by nearly 60% and seize the minds of consumers.
VCA collaborated with kol@ Edison to breed a sketch of a no-fish collaboration.
For Atkinsons, a niche fragrance brand used by the British royal family, Yingtong Group has reorganized and optimized the brand's background and product selling points through one-on-one research and fragrance testing with vertical experts, and also allowed people to have a deeper understanding of the characteristics of the products. For example, from the characteristics of the products of Old Bond Street, the labels of "slightly drunk wine" and "relaxation**" were extracted respectively, and the user perception was strengthened from the level of lifestyle and sense of season, combined with consumers' fragrance preferences and trends, and the content of Old Bond Street at No. 24 Atkinson was strengthened, guiding consumers to plant and identify with products in the product experience, helping the brand quickly occupy the minds of Chinese fragrance consumers, and won the increase in sales and widespread love of consumers.
Akinsons and kol@ went to Chang'an to work together to grow sketches.
3.Through the integration of online and offline, the brand voice is improved.
In addition, by creating a good shopping environment, providing detailed product information and professional advice, and carrying out a combination of online and offline operations, brands can better guide consumers to actively try new products and increase their engagement and trust in the brand. In March this year, SMN opened its first boutique in Shenzhen MixC with the help of Yingtong, attracting many fragrance experts and fragrance lovers to check in and visit the store, with a total amount of related content exceeding one millionAfter learning about SMN's store opening information through social networking**, many fans went to the store to check in and experience it on the spot, and achieved a high conversion rate of entering the storeIn the end, the sales volume of the first store in the first month of opening was nearly 2 times overachieved, and the sales of the same category store in the third phase of Shenzhen MixC in March were TOP1. In September, Shenzhen Vientiane World created a high-end fragrance MXTR Beauty Block in the MXTR block, bringing together a number of high-quality fragrance brands at home and abroad, and creating a new trend of artistic fragrance in the form of a limited-time concept store. SMN made a stunning appearance, and during the National Day holiday, it ranked TOP1 with ultra-high performance and stood out of the circle among many brands.
SMN's first offline store in China is located in the third phase of the MixC in Shenzhen.
In addition, the most direct confirmation of the transformation of brand power is the increase in sales. In addition to entering traditional channels, the live broadcast room of the head anchor is also the focus of most niche fragrance brands. In April, Yingtong brought SMN classic cologne to Li Jiaqi Zhijian, causing a sales frenzy, with a single-day GMV far exceeding last year's 618 full band, and the brand's single-chain sales surpassed many competing brands and went straight to the top 9In June, she cooperated with the treasure girl A Hua of the Campi Talent, serving as the one-day manager of the SMN Shenzhen store, and was popular as soon as it was released on the ** platform, and the effective content planting grass in the early stage formed a closed sales loop with the special live broadcast of SMN in July, and finally exceeded the expected sales target by 125%, which also laid a solid foundation for the opening of the first store of SMN Shanghai Ganghui Hang Lung in August, effectively undertaking the traffic of super anchors.
During this year's Double 11, SMN continued to expand its circle efficiently and establish an "omni-channel influence". SMN Overseas *** ended with an excellent result of exceeding 10 million, and received continuous praise. At the same time, with multi-type KOL rich content cutting, diversified products and grass are strong, through the form of a series of plot interpretation, the number of SMN freesia perfume single piece exceeded 10 million, triggering the search of small blue words, and accurately guiding users to search. **After the release, the keyword search and Douyin index of Taonei reached a peak. Xiaohongshu tail experts also broke out frequently, and multiple types of bloggers led consumers' purchase decisions by planting grass in a scenario-based manner. Through scene-based grass planting products and scene interpretation, consumers can have a reverie about perfume and arouse emotional resonance.
Today, China's perfume market has become a new growth engine for the global beauty market, and international perfume brands are facing both opportunities and challenges in the face of more and more consumers using perfume to "express themselves". In this process, both commercial incense and niche salon incense need to make good use of the existing brand influence, further deepen the integrated marketing of online and offline, firmly grasp the market that has been occupied, and actively innovate and explore, continue to provide consumers with better products and services, maintain competitive advantages to achieve diversified development, and open up a new world.