Fragrances in Nigeria

PROSPECTS

Emerging lifestyles of young adult population drive sales growth

Appearing confident and smelling nice due to the use of a pleasant fragrance is becoming increasingly trendy among Nigeria’s young adult population and this is driving sales of fragrances. This rising demand is being seen despite the slow growth seen in the country’s economy in 2018.

Economic recovery among major factors boosting growth

The Nigerian economy has been experiencing fluctuating price movement since the onset of economic recession in 2016, while purchasing power has remained stagnant. However, stability is gradually emerging and 2018 saw major improvements.

Value growth driven by demand for premium products among core target audience

Fragrances are generally regarded as luxury items and many view them as products that are used only by upper-income consumers. However, this conception has been changing in recent years as low- and mid-income consumers increasingly appreciate the impact of fragrances on their personal image.

COMPETITIVE LANDSCAPE

Premium player Estée Lauder continues to lead sales

Estée Lauder Cos Inc remains the leading fragrances company in Nigeria. The company’s strong position is based mainly on its wide selection of brands, which include DKNY, Estée Lauder, Tommy Hilfiger and Tom Ford, among other well-known global prestige brands.

Oriflame leads in the mass category

Second-placed fragrances company Oriflame has been able to maintain its position as the leading mass player in fragrances. The international direct selling player has been able to withstand very high levels of competition to maintain also takes the second position in the entire fragrance category due to its quality.

International brands dominate the fragrance category

Sales of fragrances are strongly dominated by international brands. This is because having a strong global presence is a major advantage in a category where quality, consistency and reliability are essential for success.

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