Fragrances in Colombia

PROSPECTS

Gap between mass and premium closing

Both mass and premium fragrances are in constant fluctuation as in other categories in beauty, where established brands are struggling to reach millennials and Generation Z consumers. Competition in this category is particularly segmented due to more brands entering under celebrity names, the rise of niche fragrances and the power of social media influencers.

Oriental fragrances expected to rise

Sales of fragrances have risen due to consumer preference, men and women taking risks, achieving a broader appeal and reaching younger consumers. Even when they are not yet available in the country, oriental fragrances are expected to rise in 2018 in vintage packaging with the intention of reviving the indulgence of applying a scent as a ritualistic part of every women’s daily beauty routine.

Healthy dynamism due to volatile currency

Sales of both premium and mass brands have maintained healthy dynamism even as final prices have been affected by a volatile currency. Premium women’s fragrances recorded the strongest growth within fragrances and continued to outperform premium men’s fragrances, driven by brands such as Carolina Herrera and Acqua di Gio, due to the promotion of sensuality and social status.

COMPETITIVE LANDSCAPE

New stores and distributors boost category expansion

Due to legal obligations, one of the most important retailers La Riviera, owned by Grupo Empresarial Waked in Colombia, closed half of its outlets and changed its payment policies. In 2016, the Group appeared on the Clinton list, which means financial and credit institutions are obliged to cease any transaction with the establishment.

Direct selling leads mass fragrances

Belstar SA, Yanbal de Colombia SA and Avon Colombia SA led fragrances in 2017. All three focus on promoting women's beauty, but with the rise of mobile and social technologies, consumers’ expectations continue to increase more than ever, demanding a more seamless experience.

Advertising essential due to intense competitive environment

Successful advertising campaigns are key to boosting sales as consumers look for fragrances with a strong image. TV is the main advertising channel used by manufacturers, while they increasingly focus on digital and social media marketing.

Files are delivered directly into your account within a few minutes of purchase.