2024中国香水与香氛白皮书

2024China Perfume and Fragrance White Paper ContentsPart 3Changes in the Chinese Perfume andFragrance Market: Stand Out in the SectorPart 1New Consumer Trends in China:Opportunities Amidst ChallengesPart 2Perfume Consumer Trends in China:Self-assurance and Confidence13Preface 03390515 Product Trends and Innovations:Atmosphere FirstPart 5Creating a Borderless Market Experience inAll-domain Consumption: Linking for Mutual Benefit. 65818283 Special ThanksData Definition In today's turbulent global stage, we've entered a phase of economic slowdown. Despite global uncertainties, China, with its strongdomestic market, innovation-driven strategy, and solid policy support, sails steadily through the complex international economiclandscape.In early 2024, the consumer market is exhibiting notable positive shifts. The emergence of ice and snow tourism alongside islandgetaways not only underscores Chinese consumers' aspiration for high-quality living and unique experiences but also reflects theirongoing pursuit of a better lifestyle. This evolving consumer trend presents fresh opportunities and challenges for market participants.Entering 2024, market participants are paying more attention to the trend of China's consumer market with more keen insight, and weare beginning to realize that the changes on the consumption side are "diversified", which requires us to interpret and respond to fromdifferent angles. Timely capture of the changes in consumer demand, quickly optimization of products and services, precise targetingof core demographics, sound grasps of the market trend, and taking full advantage of brand characteristic value and culturalconnotation are necessary in order to create of a resonant brand, thus helping to release the consumption potential, stimulate themarket dynamism, and promote sustainable economic growth.2024 marks the fifth consecutive year of the release of China Perfume Industry White Paper. Through our relentless efforts, we aim todemonstrate advancing innovation spirit, understand contemporary sentiments, cultivate the Chinese market, and pioneer blue oceanopportunities with our partners. As a pivotal link in the industry, Eternal provides in-depth market strategy and trend analysis throughits unique white paper perspective, which is based on first-hand information and data on China’s consumer trends, as well as a widerange of real consumer research results, in order to help market participants leading growth, innovation and steady progress in acomplex and evolving market environment.With China's economic trends and policy directions, consumer confidence is recovering gradually, drivingincreased demand for perfumes known for their emotional, cultural, aesthetic values, etc. Consumers are nowpursuing "borderless experiences."The competitive perfume market requires brands to precisely target and effectively communicate withconsumers across diverse needs from newcomers to seasoned users, to build a comprehensive fragrance matrix.The growth rate of the perfume market has slowed down, but the prospect is still optimistic. Strategies such asmulti-channel integration and online live streaming are promoting development. Leading companies' financialreports reflect improving business trends, while the enthusiasm for overseas capital remains strong.Products need to carry more added value as consumers’ demand of emotional value is shifting from seekingsingular "emotional healing" to a more diversified range of emotional values such as "emotional release" and"emotional expression," fostering symbiotic and inclusive needs.Perfume's value varies across different experiential levels: light experiences relies on packaging and e-commerceoperation; moderate experiences need integration of artistic aesthetics; and profound experiences requirecombination with travel and cultural elements, altogether enriching emotional connections.1.2.3.4.5.Preface “The power of beauty is indispensable. Even with inflation, consumers are not cutting back on beauty investments. Since thepandemic, perfume use has risen and search interest has increased.Consumers are now returning to physical stores as they are also concerned with sustainability and health beside experience,quality and values. They expect brands to be genuine and authentic.”⸺Lana Glazman, VP, Global Consumer Insight, DSM-Firmenich“In China, the fragrance market is embracing the values of artistry, high quality and craftsmanship. The conception of perfumeis expanding together both as a form of art and as a product for daily use, connecting individual feelings and well-being toself-expression and communication.”⸺Ambra Martone，Vice President - ICR Industrie Cosmetiche Riunite“Our clients are our ambassadors, and so we recognise the importance of investing time into understanding the nuances ofthe Chinese customer. ”⸺Roja Dove, Founder of ROJA“As a perfumer, I have witnessed how fragrance captures the spirit of the times, connecting personal emotions with culturala