In the past, the demand for premium fragrances was heavily met by international markets, as travellers who went on holidays and business trips internationally would purchase premium fragrances from these markets or from duty free shops in airports due to the low prices available. However, the pandemic had an adverse impact on international travel, as the travel industry was hard-hit by attempts to stop the spread of the virus.
From the first quarter of 2020, COVID-19 disrupted the Indian economy. This resulted in home isolation, leading to fewer marriages, social outings, etc.
Fragrances in India at the mid and premium levels is highly dominated by international brands, due to their brand value and recognition. However, several Indian companies are now focusing on tapping into this opportunity, which currently has limited domestic players, apart from the likes of Titan.
Fragrance selection currently remains a highly manual process, whereby a consumer walks into a store, a store representative offers samples to consumers for multiple products, after which a purchasing decision is made. This need to sample has narrowed the opportunities for the growth of fragrances, especially premium fragrances, and has resulted in heavy investment in stores, manpower, etc.
The pandemic impacted the business of fragrance retailers for two years, as consumer mobility was low, which resulted in less investment in fragrances. This resulted in fragrance retailers consolidating their store count to manage operational costs, or halting their expansion plans.
India’s fragrances industry is quite old, and has been developing scents for the Indian royals, such as the Mughals, for centuries. However, in past decades, this form of fragrance, attar, experienced a decline in demand due to the advent of inexpensive deodorants from retailers and premium fragrances from global players.
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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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