Although the deodorants and bodysprays market has seen growth in 2011 and 2012, it is predicted to decline in value by 4% in 2013 driven by the decline in value sales of bodysprays, as consumers seek branded products for reduced prices at discount retailers. Additionally, lack of new product innovations as well as reduced investment in advertising is also impacting the market. However, as fragrance and long-lasting formulae remain important attributes, making the shopping experience more sensorial as well as finding new ways to communicate the strength and efficacy of products could encourage greater spending in the category. In a market where own-label has limited appeal (only 20% of people agree that own-label products are good as branded products), this offers opportunities for branded products to drive innovation and communication.
The rise in population predicted of the eldest and youngest demographics is also likely to impact the market. The population of 10-14-year-olds is predicted to rise by 9% between 2013 and 2018, with the market seeing a number of launches aimed at this demographic in 2013. The population of 65-74-year-olds is also predicted to rise by 9% between 2013 and 2018. With the over-65s being the lowest users of deodorants and bodysprays, this is likely to negatively impact the market.
Strong growth in 2011 and 2012 was driven by competitive pricing, product innovations and creative marketing campaigns. 2012 saw a number of fine fragrance deodorant launches (particularly from P&G) and marketing campaigns such as NIVEA’s association with clothing retailer ASOS to advertise NIVEA Invisible Black & White. However, 2013 is predicted to see a decline of nearly 4% in value, despite a warmer summer. Lack of new product developmentas well as reduced investment in advertising may have impacted the market. Additionally, as people seek branded products for reduced prices at discount stores this may also be hampering growth of the market.
Comments are closed.