Fragrances was one of the categories hardest hit by the pandemic in 2020. With people confined to their homes for much of the year and not mixing with other people, there was a considerable fall in demand for fragrances.
Mass fragrances have had a harder time recovering after the abrupt drop due to COVID-19. A major factor impeding their recovery in 2021 was the ongoing lack of social contact, on which many direct sellers depend in order to show customers catalogues and share fragrance samples.
Perfume-type workshops continue to affect the sales of bottled mass fragrances in Ecuador. These shops sell fragrances that claim to have a similar scent to premium brands, but at much low prices.
The agreement with the EU will reduce tariffs on fragrances imported from the zone and will decline progressively in the forecast period. However, the consumption of premium fragrances will remain limited due to their high value as the special consumption tax (ICE) increases their price.
The tariff levied on products of less than USD400 and less than 4 kgs was eliminated in 2021 and these products can now be imported duty-free. This will allow consumers to purchase products such as fragrances at international prices.
In an economic scenario as complicated as that of Ecuador and with such a low level of employment, direct selling is a key of source of employment and income, especially for women, in the country. With a greater number of independent distributors expected and the return of face-to-face social interaction to allow networking, mass fragrances should be able to recover over the forecast period.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in Ecuador with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of men's, women's and unisex mass and premium fragrances as well as fragrances sets/kits. The distinction between mass market and premium is normally price and label/positioning (mass fragrances rarely carry a designer label) and distribution. Also includes hair fragrances with a primary function of making hair smell good and not to be confused with hair oil and other styling/conditioning products with hair fragrances, whose primary function is to either condition or style over fragrance.See All of Our Definitions
This report originates from Passport, our Fragrances research and analysis database.
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