Fragrances in South Korea

PRE-COVID-19 PERFORMANCE

Sephora store opening makes new fragrances available to South Korean consumers

October 2019 saw Sephora open its first store in Korea. This allowed consumers to experience a variety of niche perfumes.

Hotels offer premium scents, Tada car sharing service aims to make journeys more pleasant

Hotels and shared car service brands were practicing branding campaigns through fragrances in 2019. Four Seasons Hotel and Incheon International Airport were trying to present their unique scents.

Consumers attracted to brand experience of Jo Malone London, Diptyque targets younger adults with pop-up store

Jo Malone London slightly increased prices of fragrances at the end of the review period, while lowering prices of candle products by an average of 10%. Despite high prices, Jo Malone London continued to lead in Korea in 2019, because customers value the Jo Malone London experience.

2020 AND BEYOND

COVID-19 impact

Sales of fragrances are now expected to grow by under 1% in 2019 constant value terms in 2020 overall in light of the impact of COVID-19. This compares to an increase of over 1% forecast in 2019 constant value terms in our 2020 edition of tissue and hygiene published in February 2020 (pre-COVID-19).

Affected products within fragrances

As a result of COVID-19 the fragrances category has seen reduced demand for gift sets, due to the limitations on social interaction. Selective retail store closures and social distancing measures have resulted in switches from premium to mass products, body sprays, and lower concentration formats.

Recovery and opportunities

Limited social activities, travel restrictions and store closures may mean that the fragrances category is the worst-hit in the beauty and personal care market as a result of COVID-19, with Q1 sales almost completely obliterated. However, as lockdown restrictions ease and social activities resume, the fragrances category is set to see sales return to pre-COVID-19 levels.

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