Brands are revamping the household item commonly used for relaxation
Implications - The traditional purpose of wax candles is being transformed to incorporate edible and experiential formats. While this item is commonly used for one purpose, brands are now ensuring that consumers are able to utilize it in ways that encompass all their senses.
Insight - The revision of candles speaks to the enhanced prioritization of personalization and experience for customers, even when it comes to something as simple as standard home items. This reinvention of candles further demonstrates the constant consumer desire to explore hybrid categories that are rooted in experiential discovery.
Insight - The revision of candles speaks to the enhanced prioritization of personalization and experience for customers, even when it comes to something as simple as standard home items. This reinvention of candles further demonstrates the constant consumer desire to explore hybrid categories that are rooted in experiential discovery.
Workshop Question - How can you reposition your product or service to be multipurpose?
Trend Themes
1. Edible Candles - Consumer demand for multi-functional products have led to a rise in the popularity of edible candles, a hybrid product that offers both sensory and gustatory experiences.
2. Experiential Home Decor - The reinvention of candles as edible or multi-sensory products aligns with the ongoing trend for experiential home decor, which highlights the increasing importance of personalized and immersive consumer experiences.
3. Scented Products for Pop Culture Fans - The A24 x Joya Studio Candle Collection addresses demand among pop culture fans for home decor products that reflect their entertainment taste through sensory experiences.
Industry Implications
1. Food and Beverage - The rising popularity of edible candles presents new investment opportunities in the food and beverage industry to explore hybrid products that rely on gustatory experiences.
2. Home Decor - As consumers continue to prioritize experiential home decor, there is potential for businesses across the industry to create sensory products that offer more than just visual elements.
3. Entertainment - The success of the A24 x Joya Studio Candle Collection highlights the investment potential of creating licensed products for pop culture fans seeking sensory experiences tied to their favorite films and TV shows.
