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Fragrances in Bosnia-Herzegovina continued to outperform beauty and personal care in 2019 in terms of retail value growth. Contributing to this was the increasing popularity of niche fragrances among consumers.
Direct selling, while still by far the leading non-store retailing channel in 2019, continued to see a slowdown in current value growth. Direct selling is the dominant channel for mass fragrances in particular, with sales representatives leveraging their personal relationships with consumers to drive sales.
Private label continued to be absent from the fragrances landscape in Bosnia-Herzegovina in 2019. This reflected the intense promotion of fragrance products and consumers’ continued attachment and loyalty to their favourite brands.
Sales of fragrances are now expected to decline by 14% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 4% rise forecast for 2020 during research conducted at the end of 2019 before the spread of COVID-19.
All product areas across fragrances are expected to see sharp retail volume and value declines at constant 2019 prices in 2020 due to the COVID-19 pandemic, with double-digit declines in the majority of areas. Mass fragrances will see the sharpest value decline at constant 2019 prices, notably mass fragrance sets/kits.
Fragrances is expected to see a recovery in 2021 in terms of retail volume and value at constant 2019 prices as consumers make a return to spending. The strongest growth prospects are for premium fragrance sets/kits and premium men’s fragrances, although consumers are likely to make only a cautious return to spending at pre-COVID-19 levels.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in Bosnia and Herzegovina with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
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This industry report originates from Passport, our Beauty and Personal Care market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.