Fragrances sales will be heavily impacted by the COVID-19 pandemic 2020 overall, with a number of factors contributing to this sharp decline. During lockdown from mid-March to mid-May 2020, consumers spent much of their time at home.
All product areas across fragrances are expected to see sharp double-digit retail volume and value decline at in 2020 as a result of the COVID-19 pandemic. One of the hardest-hit product areas will be unisex fragrances, which were increasingly fashionable towards the end of the review period but have few loyal customers.
Prior to the COVID-19 pandemic, most sales were concentrated in the direct selling channel. Many consumers view direct selling brands as offering good quality fragrances, believing that their scent stays on longer, thereby saving consumers money as they need to use fragrances less often.
Following the sharp decline seen in current value sales in 2020 due to the impact of the COVID-19 lockdown and increased economic uncertainty, there will be a degree of recovery in 2021. However, a full recovery is not expected until at least 2022.
Over the forecast period, direct sellers will continue to perform well in terms of selling fragrances, especially as the direct selling work force will grow due to the increasing unemployment rates. Likewise, base consumers of premium fragrances from the medium socioeconomic segment will continue migrating to direct selling companies.
Premium fragrance players will continue to push sales via e-commerce over the forecast period. Likewise, premium fragrance consumers will continue buying online fragrances due to the constant promotional activities found via e-commerce.
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This report originates from Passport, our Fragrances research and analysis database.
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