Fragrances in Serbia

PRE-COVID-19 PERFORMANCE

Celebrity fragrances remain important, men’s products lag behind premium and unisex

“Celebrity fragrances” continued to be very popular among Serbian consumers in 2019. Nevertheless, as many of these were too expensive for most consumers in the country, there was a lot of room for other brands.

Category sees new launches seeking to take advantage of consumers’ rising incomes in 2019

2019 saw L’Oréal Balkan launch a new brand within the fragrances environment: Lancôme Idôle. The brand is particularly interesting due to its innovative packaging design.

E-commerce gains traction, drugstores/parapharmacies channel also sees share rise

E-commerce was gaining distribution share in the fragrances category in Serbia in 2019. There are many online shops, and at the end of the review period many were implementing frequent discounts and special offers, which attracted consumers.

2020 AND BEYOND

COVID-19 impact

Sales of fragrances are now expected to see negative growth of 16% in 2019 constant value terms in 2020 overall in light of the impact of COVID-19. This compares to a 2% rise forecast in 2019 constant value terms in our 2020 edition published in February 2020 (pre-COVID-19).

Affected products within fragrances

All fragrance categories are expected to see a significant downturn in 2020. As non-essential products both mass and premium fragrances will see a slump in demand arising from lockdown restrictions, consumers working from home and the lack of opportunities to socialise.

Recovery and opportunities

Recovery of the fragrances category over the forecast period will be gradual, and unlikely to realise the performances seen prior to the COVID-19 pandemic. As the economy recovers and consumer spending power increases, those more affluent consumers less affected by the impact of COVID-19 are more likely to return to their previous preference for premium fragrances.

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