The end of the review period saw fragrances manufacturers continue to invest in new product launches. This was particularly the case in premium men’s fragrances, as manufacturers sought to support the increasing interest men were taking in their style, appearance and grooming.
The demand for original, high-quality scents continued to drive growth in niche fragrances at the end of the review period. While mass fragrances are easily accessible through channels such as discount pharmacies and are known for their affordable price points and celebrity collaborations, niche fragrances are sold through a small number of stockists and at exclusive boutiques.
Coty Australia remained the largest player in fragrances in 2019, as it continued to benefit from its strong presence in key distribution channels, such as department stores and discount pharmacies. The company’s brands were often discounted In discount pharmacies, such as Priceline and Chemist Warehouse, to appeal to price-conscious consumers at the end of the review period.
Sales of fragrances are now expected to fall by 1% in 2020 in 2019 constant value terms in light of COVID-19. This compares to a 3% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.
Both men’s and women’s fragrances have seen a significant negative impact from the lack of social contact resulting from home seclusion aimed at curbing the spread of COVID-19, with demand falling across multiple channels. Moreover, the closure of non-essential stores has impacted some segments, particularly higher-end ones that are not widely available through modern grocery retailers, drugstores or pharmacies.
Fragrances has been hit very hard by measures to curb the spread of COVID-19, including home seclusion, the closure of non-essential stores, and the closure of Australia’s borders. Moreover, even as social conditions return to normal, the adverse effect of these measures on consumer purchasing power is set to constrain demand for items seen as non-essential, and encourage trading down to less expensive products.
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