Research Data
At CountrieScents™, we base our decisions on data that will help us to improve our business as well as our client's. Thorough research has inspired us to move forward and closer to our goals. We want to transfer our learning onto you by sharing the same numbers that aided us in the creation of CountrieScents™.
Market Growth
Overall, air freshener sales rose 29% over the period of 1999-2004 (a 14% increase at constant prices); the $3.5 billion air fresheners market has stayed balanced and unchanged since. Experts say, that the air freshener market will grow by 25% through 2009 (11% at constant prices), with the majority of that growth stemming from the auto air freshener market (at 35% growth). Our fragrance flags have the potential to earn you up to 400% profit. Consumer public tests have shown this product to be both popular and a high sale item.
Of all the air freshener categories, the one showing the largest gains during that period was the auto air fresheners, rising 9% from 2002-2004, with a concurrent increase in overall market share from 9.9% to 10.4%. The auto air freshener market remains a small one, however, there are three market drivers that we will positively impact the bottom line of your business by carrying the CountrieScents™ brand.
Market Drivers for the Auto Air Freshener Industry
- Minority Population Growth
- Vehicle Growth Rate
- Patriotism
Population Growth
At CountrieScents™ we have found that traditional drivers, such as the overall growth of the U.S. population have contributed positively to the increased potential of auto air fresheners. The increasing number of new households will boost revenue across segments, and correspondingly, the accelerated growth of ethnic markets, particularly the Hispanic market, will further fuel the market potential.
Currently, the US Hispanic market has become the largest minority group in the United States of America. This group will represent $1 trillion dollars of purchasing power by 2010.
Several manufacturers have looked to further develop emerging ethnic markets in the U.S. through targeted promotional initiatives. At CountrieScents™, part of our core business is to help our clients reach out to the growing communities. By creating, labeling, and adjusting our marketing communication efforts, we help you carry a product that is ready to be marketed to today's multicultural population.
Vehicle Growth Rate or Cars around the world?
On average, people spend more time driving to and from work and other locations, than the time they spend on vacations. At this very moment, there are roughly 600 million passenger cars traveling the roads of the world. In the U.S. alone, there are approximately 250 million vehicles and 191 million drivers. The data is impossible to ignore as these numbers will continue to grow.
There has been approximately a 37% growth rate in the total number of cars since 1970 around the world.
Patriotism
National pride thrives in America because of the many cultures and nationalities America hosts. People are proud to talk about the country they come from, and CountrieScents™ helps them to display this pride in a highly visible way. Now, decorations for the 4th of July are focused on out of home products. Major products include U.S. flags, bunting/bows, and specialty outdoor lighting.
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