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The widening variety and distribution of mass fragrances stimulated consumer interest in the category at the end of the review period, with 2019 seeing good sales growth. Bulgarian consumers’ price-sensitivity in particular benefited the performance of brands that are copies of brands in premium fragrances, with these dupes seeing growing interest and viewed as higher in quality than illegal counterfeits.
Bulgarian consumers increasingly enjoyed holidays in other countries during the review period, with a rise in duty free and travel purchases limiting growth for premium fragrances sales within Bulgaria in 2019. Bulgarians increasingly made duty free purchases from international airports or enjoyed buying fragrances from retailers while during foreign travel, with these appealing not only due to often offering attractive discounts but also due to counterfeiting concerns.
Direct selling remained significant within fragrances in 2019, with Avon remaining the leading player in the year despite a loss of share. Avon suffered from the widening availability of upper mass brands in stores, particularly via drugstores/parapharmacies, with these posing growing competition.
Sales of fragrances are now expected to decline by 17% in 2020 in 2019 constant value terms in light of the impact of COVID-19. This compares to an expected 2% 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 double-digit retail volume and value decline at constant 2019 prices in 2020 over the previous year, as a result of the COVID-19 pandemic. 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.
Following the sharp decline seen in retail volume and value at constant 2019 prices 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, growth will remain muted for the remaining years of the forecast period and all product areas are expected to see overall value decline at constant 2019 prices.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Fragrances industry in Bulgaria 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.
If you're in the Fragrances industry in Bulgaria, our research will save you time and money while empowering you to make informed, profitable decisions.
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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.