When home fragrance expert Harry Slatkin began his career in home fragrances 18 years ago, he literally changed the industry. Since he founded Slatkin & Co., many others have followed suit, from Ralph Lauren to Banana Republic and Martha Stewart. Slatkin now oversees product development for all the home fragrance brands under Bath & Body Works, the country's largest bath and body retailer with over 1,650 stores.

Home fragrances used to be more of a women's world. Since then, the industry has changed dramatically, says Slatkin.

"If I do a radio show, the callers in are mostly men," he says. "They are complementing me on this scent or that scent. Men are getting into scent just as much as women."

Home fragrances have also hit the college scene. "One of the hottest products right now for college students are plug-ins," says Slatkin. "Dorms smell and you can't really light a candle in a dorm. But you can use a plug-in to create a different atmosphere, plus it is a great way to hide all the musty smells of dirty laundry."