Even though fragrances returned to positive current value growth in 2021, in volume terms, demand for such products continued to decline during the year. During the year, despite the gradual easing of COVID-19 related restrictions, many Georgians continued to work from home and did not partake in social gatherings as much as they used to before the onset of the pandemic.
Demand for fragrances was already losing momentum at the end of the review period, due to high prices for global imports, with consumers already focusing their spending on products deemed more essential including personal care, certain tissue and hygiene products and groceries. During the pandemic, the economic fallout of the pandemic accelerated this trend as worsening economic conditions and increasing uncertainty of disposable incomes encouraged consumers to prioritise other purchases.
In 2021, Puig Rus took the leading position in overall fragrances back from Avon. Puig Rus offers a wide and well-known brand portfolio that offers both premium and mass brands, including Prada, Jean Paul Gaultier, Nina Ricci, Paco Rabanne, Carolina Herrera, the strongly performing United Colors of Benetton in addition to celebrity-endorsed fragrances such as Shakira and Antonio Banderas, which are well promoted through television and outdoor advertising.
Fragrances is set to return to stronger current value and retail volume growth in 2022, even though full recovery to pre-pandemic sales levels is not anticipated to occur until 2024. The initially slow growth can be attributed to a number of factors such as increasing maturity and the anticipated worsening of the economic environment in Georgia.
The loosening of border restrictions and revival of the tourist industry may provide some relief to fragrances over the forecast period. Once international tourists come back to Georgia, it is likely that they will help to increase the sales of fragrances, especially premium fragrances.
Over the forecast period, online sales are expected to continue increasing for fragrances as the pandemic brought a change in consumer habits. For instance, local consumers increasingly understand that they can browse online at their convenience from a wider range of brands which often run attractive promotional discounts.
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Understand the latest market trends and future growth opportunities for the Fragrances industry in Georgia 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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