Fragrances registered strong retail volume and current value growth in Israel in 2020 and 2021. On the one hand, the measures to stem the spread of Coronavirus (COVID-19) saw consumers spend more time at home and away from the office and social occasions.
Fragrances continued to be impacted by high seasonality in terms of purchases in 2021. The demand for fragrances tends to see a peak over August-September in the lead up to and over the Jewish New Year.
In spite of COVID-19 lockdown and social distancing measures and the closure of many retailers during 2020 and the lingering impact of the virus on work and social norms during 2021, fragrances still managed to register healthy retail volume and current volume growth. However, this performance was not easily achieved, and players had to resort to offering generous price discounts to encourage consumers to buy fragrances.
Fragrances is expected to register good growth in retail volume and value (constant 2021 prices) terms over the forecast period. As society reopens more fully, fragrances is set to benefit as consumers increase their socialising, with many having already returned to work.
Small e-commerce retailers are set to gain traction and importance by competing more aggressively on prices with lower profit margins. In general, COVID-19 has focused retailers on providing a seamless e-commerce experience, including improving assortments, ordering and payment methods and delivery services, etc.
Players are predicted to focus on new, unique scents, with boutiques across the country investing in unusual fragrances to boost sales. Furthermore, price points will remain competitive with promotions expected to run throughout the forecast period.
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Fragrances
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 DefinitionsThis report originates from Passport, our Fragrances research and analysis database.
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