Quarter 4 Year 2019



As anticipated, scent demand collapsed in the NAFTA markets.  Details are not yet available but it appears sales were off by 30% … perhaps lower in some areas not yet reporting.


Firms selling into the NAFTA market had to respond immediately under crisis management conditions.  Alerted in late Q3 to the earthquake, they had to shift available products to the most advantaged markets.  This was not too difficult.  However, marketing variables all had to be adjusted in a totally new competitive environment.  Overall, management held their own in such a whirlwind of unknown factors.  Some prospered, others over-reacted.  Some failed to react.  All in all, Q4 profits look good as does the future.