Fragrances in Serbia

PROSPECTS

Growing disposable income levels have a direct and immediate positive effect on fragrances in Serbia

Fragrance products are considered by many Serbian consumers to be non-essential and people are quick to cut back on such expenses during times of economic turmoil. However, when the situation is the opposite, ie when disposable income is growing, consumers quickly start spending more on these products.

Mass unisex fragrances and mass women’s fragrances record the highest value growth in 2017

It was mass unisex fragrances and mass women’s fragrances that posted the highest current value growth rates in 2017 within the overall category. The former was growing from a low base, but growth in the latter reflects an important insight – namely, women are much more important and loyal purchasers of fragrances.

Celebrity fragrances become more important

A notable trend observed in 2017 was the growing popularity of celebrity fragrances. It came as no surprise then that brands such as Antonio Banderas, Carolina Herrera and Shakira all recorded increases in value sales during the year.

COMPETITIVE LANDSCAPE

Fragrances has a relatively high level of concentration

The producers that ranked in the top four in Serbian fragrances in 2017 – Puig, Avon Cosmetics SCG doo, Sarantis doo and Coty Inc – represented nearly half of total category value sales in 2017, which can be interpreted as a sign of high category concentration. These producers each had many brands, most of which were in the top 10 according to overall annual value sales.

Private label remains unavailable

In 2017 there were no private label lines within fragrances in Serbia. Retailers obviously realise that consumers are too loyal to their favourite fragrance brands and remain unwilling to invest in something that might easily prove to be a massive failure.

Sarantis posts the best performance in 2017, while Oriflame Kozmetika doo keeps declining strongly

The highest value sales growth rate within Serbian fragrances in 2017 was achieved by Sarantis. Its C-Thru, STR8 and BU brands are perceived as offering very good price-quality ratios and consumers obviously valued this.

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