The Sweet Smell of Success

Just returned from Elements Showcase, a niche fragrance show happening in New York right now. Listening and talking to buyers and marketers, here are a few random things that we learned today –

The recession only really hurts the middle class/markets. Not the top/luxury and not the bottom/mass. Even in Oklahoma, where $45 candles are selling like crazy.
The Chinese consumer market is just learning about the concept of home fragrance (candles/aroma stickers/atomizers) and they tend to like “lighter” fragrances.
Small brands like to stay on Etsy, even as they grow, because it gives them the chance to still experiment with their target audience.
At-home gadgets and ingestible beauty pills are the future of cosmetics. Skin care just feels good, but doesn’t do much.
Just because you have a cool concept/packaging/product doesn’t mean you are going to build a brand.
Fewer and fewer buyers are going to trade shows, preferring to shop brands for their own stores online.
It doesn’t matter who you know, if you are difficult to work with, you aren’t going to make it.
Just like buyers and sellers in the real estate market, most companies are taking a wait and see approach to making a commitment.
The typical 90 day payout terms of prestige stores are turning into 120 as they take longer to pay, even after your products are moving on the sales floor.
Minimum orders and commitment to an entire collection is an incredibly old school way of thinking. A luxury department store will edit your collection and you must be adaptable and flexible to their terms.
Things are booming in Romania. Especially luxury items, like niche perfume.