Fragrances suffered a major blow from the change in pricing policy implemented in 2017 by health and beauty specialist retailers, which went from offering high prices and deep seasonal discounts to offering lower prices on a steady basis. With consumers expecting strong discounts, sales dropped in current value terms, as no discounts were offered; however, in 2018 the category recovered from this decline, and sales are likely to maintain steady growth throughout the forecast period.
Growth is expected in the forecast period, mostly due to consumers’ increasing interest in varying their fragrances. Despite the high prices of premium fragrances, their purchase is not considered a luxury; rather, it is becoming more acceptable for consumers to own several perfumes, alternating between them according to their mood, the season or occasion.
Consumers are seeking more unique fragrances; as premium fragrances are affordable for most consumers, they turn to niche brands and fragrances in order to emphasise their uniqueness. This is addressed by retailers both online and offline.
Lilit Cosmetics led fragrances in value terms in 2018, with a large portfolio of premium fragrances that are available in all leading health and beauty specialist retailers, such as Super-Pharm, New-Pharm, Hamashbir and April. The company regularly launches new fragrances under its various brands.
Online purchases are becoming increasingly common, and online retailing accounted for a large share of sales in 2018. Consumers are becoming more familiar with and comfortable purchasing online; thus, even fragrances – which are usually tested physically – are now purchased online.
Two players are present with boutique fragrance stores in the store-based channel – Individual Boutique, operated by fragrance importer Schestowitz, and April Boutique – a sub-section of the beauty specialist retailer April. Through various marketing activities targeted towards sophisticated fragrance consumers, these have established themselves as providing a different purchasing experience and an interesting variety of products, and are likely to continue to see growth in the forecast period.
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This industry report originates from Passport, our Beauty and Personal Care market research database.