Fragrances was severely hit by COVID-19 in 2020, with current value and volume sales declining by nearly a third. With people confined to home for much of 2020, and not mixing with other people, there was a steel fall in demand for fragrances.
Yanbal (direct seller) retained its leading position in fragrances in 2020 and gained further value share, thanks to its namesake brand, Yanbal. Groupe Transbel was in second position, but well behind Yanbal.
Demand for fragrances in Ecuador remains highly seasonal, with established purchasing patterns resulting in sales spiking during the weeks preceding various special gift-giving occasions such as Christmas, Mothers’ Day and Fathers’ Day. Another crucial point to take into consideration when evaluating fragrances is that there is a clear difference between mass and premium brands in terms of price.
Fragrances was particularly hard hit by the pandemic, with premium registering even stepper volume decline than mass fragrances. Once society opens up again, fragrances is expected to register a strong recovery, though not as strong as predicted pre-COVID-19.
A growing trend in Ecuador is perfume-type workshops that sell fragrances that claim to have a similar scent to premium brands, but at much lower prices. An example of such an outlet is the Perfumes Factory Ecuador, which instead of delivering a final product to a consumer instead sends the separate ingredients for the perfume, which the consumer them mixes themselves.
Beauty and personal care companies with a high-end positioning such as L’Occitane have sought to maintain a premium image via various strategies based on creating a luxurious and memorable retail experience. This includes employing highly-trained and qualified retail sales staff who undergo continuous training and are able to give customers very personal attention and the best advice.
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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.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Fragrances industry in Ecuador, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Fragrances research and analysis database.
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