In today’s competitive and ever-changing landscape for consumer and retail companies, lifestyle brands must be hyper-focused on effective consumer engagement if they want to ride the thoroughfare to market leadership. Our Lifestyle Brands team has been closely monitoring this shifting arena for our clients and recently commissioned a survey of consumers across the country asking them about their purchasing habits within the candle and fragrance sector specifically.
With this research, we sought to better understand key engagement considerations for market participants including:
- Most important factors influencing consumer purchasing decisions;
- How consumer purchasing activity has changed for both avid and casual consumers across diversifying retail
- Amidst a paradigm shift in other consumer segments, understanding the level of emphasis on socially responsible
brands for candle purchasers; and
- Pricing across the candle landscape and consumer price sensitivities.
Our research indicates that competitively priced brands, with niche and innovative scents, sustainable ingredients, and omnichannel retail capabilities will emerge as market leaders and attract the highest valuations. Our team would be delighted to provide further insight into the Candle and Fragrance industry landscape.
To discuss this consumer survey, please contact Kyle Kearney.