This year, size definitely matters, and the positive effects show that fragrance manufacturers may have been right on the money in offering versions in multiple mls. While valentines everywhere may be receiving smaller sizes of their most coveted prestige fragrances, the good news is that more of them will be gifted with popular scents.
According to market research firm The NPD Group, Inc., overall Valentine’s Day dollar sales of prestige fragrances have been declining each February since 2006—dropping 4% in total in February 2009, compared to the February 2008. However, going into Valentine’s Day 2010, NPD sees a positive trend in sales of small size fragrances.
Karen Grant, vice president and global industry analyst, NPD—and a member of Beauty Packaging magazine’s Board of Advisors—says, “Though the fragrance market has been challenged, there are areas that are resonating with consumers. Smaller sizes are becoming an increasingly important option today. What’s encouraging is that they are not just working in women’s scents or new fragrances…we are also seeing growth in smaller sizes for both women’s and men’s fragrances (one ounce and smaller) and classics, as well as new scents.”
According to NPD, in annual 2009, women’s fragrance juices under one ounce, grew 8% in units, versus 2006. Looking at new skus in 2009, growth came from new items like the Harajuku Lovers Snow Bunnies, as well as existing skus like Beautiful and Pleasures. For men, growth came in new one ounce skus like Polo Blue and Polo Black.
“Smaller sizes are a great way for consumers to get a taste of what’s new or to remember a loved favorite scent. This could be not only a thoughtful option, but a budget friendly one for Valentine’s Day gift giving,” added Grant.