Fragrances turned to current value decline in 2020, after seeing growth during most of the review period. Although the value decline was only slow despite the challenging conditions, it should be noted that this was mainly due to price rises, since retail volume sales plummeted.
Nevertheless, home indulgence contributed to offsetting these negative factors and helped maintain a baseline of demand. Paradoxically, going counter to the general disdain for home use of fragrances, consumption of certain fragrance types, particularly well-known premium brands, is acceptable in more celebratory private contexts and as pure indulgence, with many consumers spending more on luxury items in the absence of other consumption occasions.
Whilst COVID-19 disrupted any new developments that had been planned amongst the larger brands or players, several smaller domestic challengers took the opportunity to make forays into the category and attempted to innovate. Amongst some of the more notable were the influencer-driven release of Hotshot But Hotter by Nordicfeel in collaboration with Linn Ahlborg.
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This report originates from Passport, our Fragrances research and analysis database.
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