Monoi Oil has a great story to go with it. It's the traditional Tahitian skincare product made by infusing coconut oil with gardenia petals. As such it is really good natural product with a genuine heritage and some real benefits. It does present a couple of challenges though. For a start, you can only use it in formulations where coconut oil is a suitable ingredient, so that rules out things like shampoos. And while consumers love the concept and the benefits of natural products, producers have to be clear headed about their drawbacks too. Monoi oil isn't going to last as long as more highly processed oils. The smell will fade over time as well putting a limit on its shelf life.
You can't expect bargain basement prices for such a natural product either.
And in some ways worse of all - the smell is quite low in intensity. People love it when it is pointed out to them. But in in a busy marketplace with every product shouting for attention it is going to struggle to be noticed.
The obvious solution to all these problems is to simply add a gardenia fragrance and cut the actual monoi level down to a bare minimum. It'll be cheaper, more long lasting and more striking. This might not appeal if you want to be greener than green and cleaner than clean. And to be sure there will always be people out there who will put their hands in their pockets for something special, but quality has never been a mass market proposition.
Read more about monoi oil on my consumer focused blog.